Short Interest in Allakos Inc. (NASDAQ:ALLK) Drops By 17.1%

Allakos Inc. (NASDAQ:ALLK) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,650,000 shares, a decline of 17.1% from the September 30th total of 1,990,000 shares. Based on an average daily volume of 547,900 shares, the short-interest ratio is currently 3.0 days.

Allakos Price Performance

Shares of ALLK stock opened at $1.29 on Tuesday. The stock’s fifty day simple moving average is $0.71 and its 200 day simple moving average is $0.92. Allakos has a one year low of $0.54 and a one year high of $3.41. The firm has a market cap of $114.22 million, a price-to-earnings ratio of -0.53 and a beta of 1.16.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.02. On average, research analysts anticipate that Allakos will post -1.2 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $3.00 price objective on shares of Allakos in a research note on Thursday, September 26th. Jefferies Financial Group dropped their price objective on shares of Allakos from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALLK. BNP Paribas Financial Markets raised its position in shares of Allakos by 1,041.1% during the first quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock worth $259,000 after acquiring an additional 187,640 shares during the last quarter. GSA Capital Partners LLP bought a new position in Allakos in the first quarter valued at about $929,000. Vanguard Group Inc. increased its position in Allakos by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after purchasing an additional 539,087 shares during the period. Acadian Asset Management LLC raised its holdings in Allakos by 1,753.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,331,639 shares of the company’s stock worth $1,677,000 after purchasing an additional 1,259,778 shares during the last quarter. Finally, Platinum Investment Management Ltd. lifted its position in Allakos by 84.6% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock valued at $1,477,000 after purchasing an additional 537,038 shares during the period. 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.