Allakos Inc. (NASDAQ:ALLK) Sees Significant Decrease in Short Interest

Allakos Inc. (NASDAQ:ALLK) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,390,000 shares, a decrease of 18.7% from the October 31st total of 1,710,000 shares. Based on an average daily volume of 667,500 shares, the short-interest ratio is currently 2.1 days.

Allakos Stock Up 2.0 %

ALLK opened at $1.03 on Friday. The stock has a fifty day moving average of $0.95 and a 200-day moving average of $0.93. The firm has a market capitalization of $92.02 million, a P/E ratio of -0.51 and a beta of 1.03. Allakos has a 12-month low of $0.54 and a 12-month high of $3.41.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.01. On average, analysts expect that Allakos will post -1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and issued a $3.00 target price on shares of Allakos in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1.67.

Institutional Trading of Allakos

Several hedge funds and other institutional investors have recently modified their holdings of ALLK. Point72 Asset Management L.P. purchased a new stake in shares of Allakos during the third quarter worth $1,143,000. FMR LLC raised its holdings in shares of Allakos by 14.6% during the third quarter. FMR LLC now owns 5,370,247 shares of the company’s stock worth $3,508,000 after acquiring an additional 685,623 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Allakos by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after acquiring an additional 539,087 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Allakos by 32.4% during the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock worth $1,761,000 after acquiring an additional 431,175 shares in the last quarter. Finally, RBF Capital LLC raised its holdings in shares of Allakos by 45.9% during the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock worth $333,000 after acquiring an additional 160,529 shares in the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

Allakos Company Profile

Allakos Inc, a clinical stage biotechnology company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases in the United States. The company’s lead product candidate is AK006, which in a Phase I clinical trial for the treatment of chronic spontaneous urticaria (CSU) and other indications.