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

Allakos Inc. (NASDAQ:ALLK) was the target of a large growth in short interest in 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 short-interest ratio is presently 1.2 days.

Allakos Price Performance

ALLK opened at $0.26 on Thursday. The firm has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $0.86. Allakos has a 52 week low of $0.23 and a 52 week high of $1.69.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citizens Jmp lowered 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 note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALLK. Cubist Systematic Strategies LLC bought a new position in shares of Allakos during the 2nd quarter valued at about $55,000. GSA Capital Partners LLP boosted its holdings in shares of Allakos by 11.9% during the 3rd quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after purchasing an additional 84,750 shares during the last quarter. FMR LLC boosted its holdings in shares of Allakos by 14.6% during 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 during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Allakos during the 3rd quarter valued at about $1,143,000. Finally, RBF Capital LLC lifted its holdings in shares of Allakos by 45.9% in the 3rd 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. Institutional investors 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.