Allakos Inc. (NASDAQ:ALLK) Short Interest Down 18.8% in February

Allakos Inc. (NASDAQ:ALLK) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,940,000 shares, a decrease of 18.8% from the February 13th total of 2,390,000 shares. Based on an average trading volume of 2,190,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.6% of the company’s stock are sold short.

Allakos Trading Up 0.9 %

NASDAQ:ALLK opened at $0.26 on Thursday. The firm has a market capitalization of $23.23 million, a PE ratio of -0.13 and a beta of 0.72. Allakos has a 52 week low of $0.23 and a 52 week high of $1.56. The stock has a 50 day moving average of $0.44 and a 200-day moving average of $0.77.

Institutional Investors Weigh In On Allakos

Several large investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC boosted its holdings in shares of Allakos by 25.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 209,900 shares of the company’s stock valued at $254,000 after acquiring an additional 42,500 shares during the period. Jane Street Group LLC boosted its stake in Allakos by 92.6% during the 4th 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. ADAR1 Capital Management LLC bought a new position in Allakos in the 4th quarter worth about $75,000. Geode Capital Management LLC increased its stake in shares of Allakos by 8.9% in the third quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock valued at $646,000 after purchasing an additional 80,763 shares during the period. Finally, GSA Capital Partners LLP raised 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 buying an additional 84,750 shares during the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.