Allakos Inc. (NASDAQ:ALLK) Sees Large Decline in Short Interest

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

Institutional Investors Weigh In On Allakos

Several hedge funds have recently modified their holdings of ALLK. Vanguard Group Inc. raised its stake in shares of Allakos by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock valued at $4,781,000 after purchasing an additional 539,087 shares during the period. Acadian Asset Management LLC increased its position in shares of Allakos by 32.4% during the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock worth $1,761,000 after acquiring an additional 431,175 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Allakos in the second quarter worth about $25,000. Cubist Systematic Strategies LLC purchased a new position in Allakos in the second quarter valued at about $55,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Allakos during the second quarter worth approximately $112,000. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

Allakos Trading Up 2.0 %

Shares of ALLK opened at $1.03 on Friday. The stock’s fifty day simple moving average is $0.95 and its 200 day simple moving average is $0.93. Allakos has a twelve month low of $0.54 and a twelve month high of $3.41. The firm has a market capitalization of $92.02 million, a P/E ratio of -0.51 and a beta of 1.03.

Allakos (NASDAQ:ALLK) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. Sell-side analysts predict that Allakos will post -1.16 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and issued a $3.00 price target on shares of Allakos in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $1.67.

About Allakos

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.