Short Interest in Allakos Inc. (NASDAQ:ALLK) Increases By 167.0%

Allakos Inc. (NASDAQ:ALLK) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,440,000 shares, a growth of 167.0% from the January 15th total of 914,000 shares. Based on an average trading volume of 2,020,000 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in Allakos in the second quarter worth approximately $55,000. ADAR1 Capital Management LLC purchased a new position in Allakos in the fourth quarter worth approximately $75,000. Geode Capital Management LLC grew its position in Allakos by 8.9% in the third quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock worth $646,000 after acquiring an additional 80,763 shares during the period. GSA Capital Partners LLP lifted its stake in Allakos by 11.9% during the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock worth $519,000 after purchasing an additional 84,750 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Allakos by 16.3% during the fourth quarter. Renaissance Technologies LLC now owns 844,233 shares of the company’s stock worth $1,022,000 after purchasing an additional 118,394 shares in the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

Allakos Stock Down 5.2 %

NASDAQ:ALLK traded down $0.02 on Friday, hitting $0.28. The stock had a trading volume of 986,080 shares, compared to its average volume of 4,010,422. The stock has a market cap of $25.19 million, a price-to-earnings ratio of -0.14 and a beta of 0.78. The company has a fifty day moving average price of $0.86 and a two-hundred day moving average price of $0.85. Allakos has a 1-year low of $0.23 and a 1-year high of $1.69.

Wall Street Analysts Forecast Growth

ALLK has been the subject of a number of analyst reports. Piper Sandler cut shares of Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Citizens Jmp lowered shares of Allakos from a “strong-buy” rating to a “hold” rating in a research note 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.com, the company presently has an average rating of “Hold” and a consensus target price of $2.00.

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.