Allakos Inc. (NASDAQ:ALLK) Short Interest Update

Allakos Inc. (NASDAQ:ALLK) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,020,000 shares, a decline of 32.5% from the March 31st total of 1,510,000 shares. Based on an average daily trading volume, of 2,670,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.4% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research firms have issued reports on ALLK. Piper Sandler cut Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Citizens Jmp cut Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allakos has an average rating of “Hold” and an average target price of $2.00.

Allakos Trading Down 0.0 %

NASDAQ ALLK opened at $0.33 on Wednesday. Allakos has a 12 month low of $0.22 and a 12 month high of $1.56. The firm has a market capitalization of $29.46 million, a PE ratio of -0.16 and a beta of 0.62. The business’s 50-day moving average price is $0.28 and its two-hundred day moving average price is $0.70.

Institutional Trading of Allakos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deltec Asset Management LLC bought a new stake in shares of Allakos in the 1st quarter valued at $59,000. FNY Investment Advisers LLC bought a new stake in Allakos during the first quarter valued at $39,000. Tang Capital Management LLC grew its holdings in Allakos by 736.4% during the 4th quarter. Tang Capital Management LLC now owns 378,552 shares of the company’s stock worth $458,000 after acquiring an additional 333,290 shares during the period. Point72 Asset Management L.P. raised its position in shares of Allakos by 105.4% in the 4th quarter. Point72 Asset Management L.P. now owns 3,594,576 shares of the company’s stock worth $4,349,000 after acquiring an additional 1,844,576 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Allakos by 20.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 936,797 shares of the company’s stock valued at $1,134,000 after purchasing an additional 159,095 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.