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

Allakos Inc. (NASDAQ:ALLK - Get Free Report) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 1,650,000 shares, a decline of 17.1% from the September 30th total of 1,990,000 shares. Based on an average daily trading volume, of 547,900 shares, the short-interest ratio is presently 3.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Allakos during the second quarter worth $25,000. Cubist Systematic Strategies LLC purchased a new stake in Allakos during the 2nd quarter worth about $55,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Allakos in the 2nd quarter valued at about $112,000. Acadian Asset Management LLC lifted its holdings in Allakos by 32.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company's stock valued at $1,761,000 after purchasing an additional 431,175 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new stake in shares of Allakos during the 1st quarter worth about $3,068,000. Hedge funds and other institutional investors own 84.64% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALLK. JMP Securities reissued a "market outperform" rating and issued a $3.00 price target on shares of Allakos in a report on Thursday, September 26th. Jefferies Financial Group dropped their price objective on shares of Allakos from $1.50 to $1.00 and set a "hold" rating on the stock in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $1.67.

Allakos Trading Down 1.5 %

ALLK stock traded down $0.02 during trading on Monday, hitting $1.29. 933,463 shares of the company's stock were exchanged, compared to its average volume of 855,568. Allakos has a 52-week low of $0.54 and a 52-week high of $3.41. The stock has a market capitalization of $114.22 million, a price-to-earnings ratio of -0.53 and a beta of 1.16. The business has a 50-day moving average price of $0.71 and a two-hundred day moving average price of $0.92.

Allakos (NASDAQ:ALLK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.30) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.02. On average, equities research analysts anticipate that Allakos will post -1.2 earnings per share for the current fiscal year.

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.