Short Interest in Allakos Inc. (NASDAQ:ALLK) Decreases By 18.8%

Allakos Inc. (NASDAQ:ALLK) saw a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,940,000 shares, a decrease of 18.8% from the February 13th total of 2,390,000 shares. Based on an average daily volume of 2,190,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 2.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALLK shares. Citizens Jmp lowered Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler lowered shares of Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.00.

Institutional Investors Weigh In On Allakos

Several institutional investors have recently bought and sold shares of ALLK. Lynx1 Capital Management LP bought a new stake in shares of Allakos during the 4th quarter worth about $4,390,000. Alta Partners Management Company L.P. acquired a new position in shares of Allakos during the fourth quarter valued at approximately $3,081,000. Point72 Asset Management L.P. raised its holdings in Allakos by 105.4% during the fourth quarter. Point72 Asset Management L.P. now owns 3,594,576 shares of the company’s stock worth $4,349,000 after purchasing an additional 1,844,576 shares in the last quarter. RA Capital Management L.P. acquired a new stake in Allakos in the fourth quarter worth approximately $1,367,000. Finally, Deep Track Capital LP boosted its stake in Allakos by 14.1% during the 4th quarter. Deep Track Capital LP now owns 5,704,282 shares of the company’s stock valued at $6,902,000 after purchasing an additional 704,282 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Allakos Price Performance

ALLK opened at $0.26 on Wednesday. Allakos has a 12 month low of $0.23 and a 12 month high of $1.56. The stock’s 50 day moving average price is $0.45 and its 200 day moving average price is $0.78. The stock has a market cap of $22.80 million, a P/E ratio of -0.13 and a beta of 0.72.

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.