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

Allakos Inc. (NASDAQ:ALLK) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,440,000 shares, a growth of 167.0% from the January 15th total of 914,000 shares. Based on an average daily trading volume, of 2,020,000 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of Allakos

A number of large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in shares of Allakos during the 2nd quarter valued at about $55,000. RBF Capital LLC lifted its stake in Allakos by 45.9% in the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after buying an additional 160,529 shares during the period. GSA Capital Partners LLP lifted its stake in Allakos by 11.9% in the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after buying an additional 84,750 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Allakos by 8.9% during the 3rd quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock worth $646,000 after buying an additional 80,763 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Allakos during the 3rd quarter worth approximately $1,143,000. 84.64% of the stock is currently owned by institutional investors and hedge funds.

Allakos Price Performance

Shares of ALLK traded down $0.01 during trading hours on Wednesday, hitting $0.26. 1,604,603 shares of the stock were exchanged, compared to its average volume of 4,160,489. Allakos has a fifty-two week low of $0.23 and a fifty-two week high of $1.69. The business has a 50-day moving average of $0.89 and a 200-day moving average of $0.86. The firm has a market capitalization of $23.63 million, a P/E ratio of -0.13 and a beta of 0.78.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ALLK shares. Citizens Jmp downgraded shares of Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler lowered Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.00.

About Allakos

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.