Allakos Inc. (NASDAQ:ALLK – Get Rating) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,270,000 shares, an increase of 7.1% from the August 15th total of 2,120,000 shares. Approximately 6.8% of the company’s shares are short sold. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is currently 1.4 days.
Hedge Funds Weigh In On Allakos
Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. lifted its position in Allakos by 1,229.5% during the second quarter. Federated Hermes Inc. now owns 1,761,867 shares of the company’s stock worth $5,515,000 after purchasing an additional 1,629,344 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Allakos by 5,817.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 833,547 shares of the company’s stock worth $8,160,000 after purchasing an additional 819,460 shares during the period. Commodore Capital LP bought a new stake in Allakos during the fourth quarter worth about $7,985,000. Goldman Sachs Group Inc. lifted its position in Allakos by 258.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,007,096 shares of the company’s stock worth $5,741,000 after purchasing an additional 725,818 shares during the period. Finally, PDT Partners LLC lifted its position in Allakos by 587.8% during the first quarter. PDT Partners LLC now owns 660,577 shares of the company’s stock worth $3,765,000 after purchasing an additional 564,531 shares during the period. 66.67% of the stock is currently owned by institutional investors and hedge funds.
Allakos Stock Performance
Shares of ALLK opened at $5.84 on Tuesday. The firm’s 50 day moving average price is $4.05 and its two-hundred day moving average price is $4.10. The firm has a market cap of $320.29 million, a P/E ratio of -0.79 and a beta of 0.66. Allakos has a twelve month low of $2.54 and a twelve month high of $11.73.
Wall Street Analysts Forecast Growth
Separately, Sumitomo Mitsui Financial Group cut shares of Allakos from a “neutral” rating to an “underperform” rating in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Allakos presently has an average rating of “Hold” and an average price target of $66.80.
Allakos Inc, a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. The company's lead monoclonal antibody is lirentelimab (AK002), which is in a Phase III study for the treatment of eosinophilic gastritis and/or eosinophilic duodenitis; a Phase II/III study for eosinophilic esophagitis; and a Phase II clinical study to atopic dermatitis and chronic spontaneous urticaria.
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