Allakos Inc. (NASDAQ:ALLK) Short Interest Down 15.7% in December

Allakos Inc. (NASDAQ:ALLK) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 842,800 shares, a drop of 15.7% from the November 30th total of 1,000,000 shares. Based on an average daily volume of 656,500 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and set a $3.00 price objective on shares of Allakos in a research note on Thursday, September 26th.

Allakos Stock Performance

ALLK traded up $0.04 on Friday, hitting $1.30. The company had a trading volume of 250,605 shares, compared to its average volume of 789,747. The stock has a market capitalization of $116.15 million, a price-to-earnings ratio of -0.64 and a beta of 0.92. The stock has a fifty day moving average price of $1.16 and a 200-day moving average price of $0.91. Allakos has a 12-month low of $0.54 and a 12-month high of $3.36.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. Analysts forecast that Allakos will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Allakos

A number of large investors have recently made changes to their positions in ALLK. Acadian Asset Management LLC boosted its position in shares of Allakos by 32.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock worth $1,761,000 after purchasing an additional 431,175 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Allakos in the second quarter valued at about $25,000. Cubist Systematic Strategies LLC acquired a new stake in Allakos in the second quarter worth about $55,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allakos during the second quarter worth about $112,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Allakos by 11.9% during the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after acquiring an additional 84,750 shares in the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.

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.