Allakos Inc. (NASDAQ:ALLK) Short Interest Update

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

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and set a $3.00 price objective on shares of Allakos in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Allakos has a consensus rating of “Hold” and a consensus target price of $1.67.

Allakos Trading Up 2.0 %

NASDAQ ALLK opened at $1.03 on Monday. The stock has a market cap of $92.02 million, a P/E ratio of -0.51 and a beta of 1.03. The company’s fifty day simple moving average is $0.95 and its 200-day simple moving average is $0.93. Allakos has a 52 week low of $0.54 and a 52 week high of $3.41.

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

Institutional Investors Weigh In On Allakos

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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 during the period. Acadian Asset Management LLC increased its position in Allakos by 32.4% in the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock worth $1,761,000 after buying an additional 431,175 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Allakos during the second quarter valued at $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Allakos in the 2nd quarter worth about $55,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Allakos in the 2nd quarter valued at about $112,000. Institutional investors and hedge funds own 84.64% of the company’s stock.

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.