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

Allakos Inc. (NASDAQ:ALLK) saw a large decrease in short interest in 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. Approximately 2.6% of the company’s stock are sold short. Based on an average daily volume of 2,190,000 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Allakos

Institutional investors have recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC acquired a new stake in Allakos during the 4th quarter valued at $75,000. Jane Street Group LLC increased its stake in shares of Allakos by 92.6% in the fourth quarter. Jane Street Group LLC now owns 101,097 shares of the company’s stock worth $122,000 after acquiring an additional 48,602 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Allakos by 25.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 209,900 shares of the company’s stock worth $254,000 after acquiring an additional 42,500 shares during the last quarter. RBF Capital LLC increased its stake in shares of Allakos by 45.9% in the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock worth $333,000 after acquiring an additional 160,529 shares during the last quarter. Finally, Tang Capital Management LLC boosted its holdings in Allakos by 736.4% in the fourth quarter. Tang Capital Management LLC now owns 378,552 shares of the company’s stock worth $458,000 after purchasing an additional 333,290 shares in the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Allakos Stock Up 2.8 %

Shares of Allakos stock opened at $0.25 on Tuesday. The firm has a market cap of $22.68 million, a P/E ratio of -0.13 and a beta of 0.72. Allakos has a fifty-two week low of $0.23 and a fifty-two week high of $1.56. The business has a 50-day moving average price of $0.47 and a 200 day moving average price of $0.78.

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.