Short Interest in Allakos Inc. (NASDAQ:ALLK) Increases By 167.0%

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

Analyst Ratings Changes

Several brokerages have commented on ALLK. Piper Sandler cut shares of Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Citizens Jmp cut shares of Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.00.

Allakos Price Performance

Shares of Allakos stock traded down $0.02 during trading hours on Friday, reaching $0.28. The company’s stock had a trading volume of 986,080 shares, compared to its average volume of 4,010,422. The firm has a 50 day moving average price of $0.86 and a 200-day moving average price of $0.85. Allakos has a one year low of $0.23 and a one year high of $1.69. The stock has a market cap of $25.19 million, a P/E ratio of -0.14 and a beta of 0.78.

Institutional Trading of Allakos

Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new stake in shares of Allakos in the 2nd quarter worth about $55,000. ADAR1 Capital Management LLC purchased a new stake in Allakos in the 4th quarter valued at about $75,000. RBF Capital LLC lifted its position in Allakos by 45.9% during the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after acquiring an additional 160,529 shares during the last quarter. GSA Capital Partners LLP lifted its position in Allakos by 11.9% during the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after acquiring an additional 84,750 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Allakos by 8.9% during the third quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock valued at $646,000 after acquiring an additional 80,763 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.

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.