Allakos Inc. (NASDAQ:ALLK) Short Interest Down 17.1% in October

Allakos Inc. (NASDAQ:ALLK) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,650,000 shares, a drop of 17.1% from the September 30th total of 1,990,000 shares. Based on an average daily volume of 547,900 shares, the days-to-cover ratio is currently 3.0 days.

Hedge Funds Weigh In On Allakos

A number of hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in Allakos by 1,753.1% in the first quarter. Acadian Asset Management LLC now owns 1,331,639 shares of the company’s stock worth $1,677,000 after acquiring an additional 1,259,778 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Allakos by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after purchasing an additional 539,087 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Allakos during the second quarter worth $55,000. BNP Paribas Financial Markets raised its holdings in Allakos by 1,041.1% during the first quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after buying an additional 187,640 shares in the last quarter. Finally, Ikarian Capital LLC lifted its position in shares of Allakos by 293.4% in the first quarter. Ikarian Capital LLC now owns 932,675 shares of the company’s stock worth $1,175,000 after buying an additional 695,619 shares during the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group cut their price objective on Allakos from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. JMP Securities restated a “market outperform” rating and issued a $3.00 price target on shares of Allakos in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1.67.

Allakos Stock Up 10.1 %

Shares of NASDAQ:ALLK opened at $1.31 on Monday. The firm has a fifty day moving average of $0.70 and a two-hundred day moving average of $0.92. Allakos has a 12-month low of $0.54 and a 12-month high of $3.41. The firm has a market capitalization of $115.99 million, a P/E ratio of -0.53 and a beta of 1.16.

Allakos (NASDAQ:ALLK) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. Equities research analysts expect that Allakos will post -1.2 earnings per share for the current fiscal year.

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.