Allakos Inc. (NASDAQ:ALLK) Short Interest Update

Allakos Inc. (NASDAQ:ALLK) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,020,000 shares, a decline of 32.5% from the March 31st total of 1,510,000 shares. Based on an average trading volume of 2,670,000 shares, the short-interest ratio is presently 0.4 days. Currently, 1.4% of the company’s stock are short sold.

Allakos Price Performance

Shares of ALLK stock opened at $0.33 on Thursday. Allakos has a 1-year low of $0.22 and a 1-year high of $1.56. The stock’s 50-day moving average is $0.29 and its 200 day moving average is $0.70. The company has a market cap of $29.45 million, a P/E ratio of -0.16 and a beta of 0.62.

Institutional Investors Weigh In On Allakos

A number of institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in Allakos in the first quarter worth about $39,000. Deltec Asset Management LLC acquired a new stake in Allakos in the first quarter worth about $59,000. ADAR1 Capital Management LLC acquired a new stake in Allakos in the fourth quarter worth about $75,000. Jane Street Group LLC boosted its holdings in 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 in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in 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 in the last quarter. Institutional investors own 84.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citizens Jmp downgraded Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler downgraded Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Allakos 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.