Short Interest in Allakos Inc. (NASDAQ:ALLK) Decreases By 13.9%

Allakos Inc. (NASDAQ:ALLK) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,670,000 shares, a decline of 13.9% from the February 28th total of 1,940,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Allakos

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its stake in shares of Allakos by 14.6% during the 3rd quarter. FMR LLC now owns 5,370,247 shares of the company’s stock worth $3,508,000 after purchasing an additional 685,623 shares during the last quarter. Geode Capital Management LLC raised its stake 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 valued at $646,000 after purchasing an additional 80,763 shares during the period. Point72 Asset Management L.P. purchased a new stake in Allakos during the 3rd quarter worth about $1,143,000. RBF Capital LLC boosted its position in shares of 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 acquiring an additional 160,529 shares during the period. Finally, Alta Partners Management Company L.P. purchased a new position in shares of Allakos during the 4th quarter valued at $3,081,000. Hedge funds and other institutional investors own 84.64% of the company’s stock.

Allakos Stock Performance

Shares of ALLK stock opened at $0.32 on Thursday. The stock has a 50 day simple moving average of $0.30 and a two-hundred day simple moving average of $0.75. Allakos has a fifty-two week low of $0.22 and a fifty-two week high of $1.56. The company has a market cap of $28.98 million, a P/E ratio of -0.16 and a beta of 0.72.

Wall Street Analyst Weigh In

ALLK has been the topic of several research reports. Citizens Jmp downgraded shares of Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Piper Sandler cut Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Allakos currently has a consensus rating of “Hold” and a consensus price target of $2.00.

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.