Allakos Inc. (NASDAQ:ALLK) Short Interest Down 13.9% in March

Allakos Inc. (NASDAQ:ALLK) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,670,000 shares, a decline of 13.9% from the February 28th total of 1,940,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 2.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Allakos

A number of institutional investors and hedge funds have recently bought and sold shares of the business. ADAR1 Capital Management LLC acquired a new position in Allakos during the 4th quarter worth $75,000. Jane Street Group LLC increased its holdings in shares of Allakos by 92.6% during the fourth quarter. Jane Street Group LLC now owns 101,097 shares of the company’s stock valued at $122,000 after purchasing an additional 48,602 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Allakos by 25.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 209,900 shares of the company’s stock worth $254,000 after buying an additional 42,500 shares in the last quarter. RBF Capital LLC raised 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 buying an additional 160,529 shares in the last quarter. Finally, Tang Capital Management LLC raised its position 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 acquiring an additional 333,290 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Allakos Trading Down 4.7 %

ALLK stock opened at $0.22 on Wednesday. The company’s 50-day moving average price is $0.31 and its 200 day moving average price is $0.75. The company has a market cap of $19.57 million, a P/E ratio of -0.11 and a beta of 0.72. Allakos has a 52 week low of $0.22 and a 52 week high of $1.56.

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.