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

Allakos Inc. (NASDAQ:ALLK) was the target of a large growth in short interest in 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 days-to-cover ratio is currently 1.2 days.

Wall Street Analyst Weigh In

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

Allakos Stock Performance

NASDAQ:ALLK opened at $0.26 on Thursday. Allakos has a one year low of $0.23 and a one year high of $1.69. The business has a fifty day moving average price of $0.88 and a 200-day moving average price of $0.86.

Institutional Investors Weigh In On Allakos

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Allakos in the 2nd quarter worth $55,000. Geode Capital Management LLC increased its stake in shares of Allakos by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock worth $646,000 after purchasing an additional 80,763 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Allakos by 11.9% in the 3rd 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. RBF Capital LLC increased its stake in shares of Allakos by 45.9% in the 3rd quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock worth $333,000 after purchasing an additional 160,529 shares in the last quarter. Finally, FMR LLC increased its stake in Allakos by 14.6% in the 3rd quarter. FMR LLC now owns 5,370,247 shares of the company’s stock worth $3,508,000 after buying an additional 685,623 shares in the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

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.