Allakos Inc. (NASDAQ:ALLK) Short Interest Up 167.0% in January

Allakos Inc. (NASDAQ:ALLK) was the target of a large 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 volume of 2,020,000 shares, the days-to-cover ratio is currently 1.2 days.

Analysts Set New Price Targets

ALLK has been the topic of a number of recent research reports. Piper Sandler lowered shares of Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Citizens Jmp lowered shares of Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.00.

Hedge Funds Weigh In On Allakos

Several hedge funds and other institutional investors have recently made changes to their positions in ALLK. FMR LLC boosted its stake in shares of Allakos by 14.6% in the 3rd quarter. FMR LLC now owns 5,370,247 shares of the company’s stock valued at $3,508,000 after purchasing an additional 685,623 shares in the last quarter. Geode Capital Management LLC lifted its stake in Allakos by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock valued at $646,000 after purchasing an additional 80,763 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Allakos in the third quarter valued at approximately $1,143,000. GSA Capital Partners LLP grew its stake in shares of Allakos by 11.9% during the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock worth $519,000 after buying an additional 84,750 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Allakos during the second quarter worth $55,000. 84.64% of the stock is currently owned by institutional investors and hedge funds.

Allakos Price Performance

ALLK traded down $0.01 on Wednesday, hitting $0.26. 1,604,603 shares of the stock were exchanged, compared to its average volume of 4,160,489. The firm has a market capitalization of $23.63 million, a price-to-earnings ratio of -0.13 and a beta of 0.78. Allakos has a 12 month low of $0.23 and a 12 month high of $1.69. The business has a 50-day moving average of $0.89 and a two-hundred day moving average of $0.86.

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.