Short Interest in Allakos Inc. (NASDAQ:ALLK) Drops By 15.7%

Allakos Inc. (NASDAQ:ALLK) experienced a notable decrease in short interest during December. As of December 15th, the short interest stood at 842,800 shares, reflecting a decline of 15.7% from November 30th, when it was recorded at 1,000,000 shares. With an average daily trading volume of 656,500 shares, the short-interest ratio is currently at 1.3 days, indicating how many days it would take for all short positions to be covered based on average trading volume.

Analysts Set New Price Targets

In addition, JMP Securities maintained a "market outperform" rating for Allakos, setting a price target of $3.00 per share in a recent research report dated September 26th.

Institutional Trading of Allakos

Various institutional investors have made adjustments to their holdings in Allakos. For instance, Point72 DIFC Ltd established a new position worth about $25,000 during the second quarter. Similarly, Cubist Systematic Strategies LLC entered a new stake worth approximately $55,000 in the same quarter. Additionally, Point72 Asia Singapore Pte. Ltd. acquired a new stake valued at $112,000 during the second quarter. RBF Capital LLC increased its position in Allakos by 45.9% in the third quarter, now holding 510,529 shares worth $333,000 after purchasing 160,529 shares. Furthermore, GSA Capital Partners LLP raised its stake by 11.9% in the third quarter, now owning 794,896 shares valued at $519,000 following the acquisition of an additional 84,750 shares. Overall, institutional investors account for 84.64% of Allakos' total shares.

Allakos Trading Observations

On Friday, shares of NASDAQ: ALLK rose by 3.2%, trading at $1.30 with a volume of 250,605 shares exchanged, compared to its average trading volume of 789,747 shares. Allakos has a market capitalization of $116.15 million, a price-to-earnings ratio of -0.64, and a beta of 0.92. The company's 50-day moving average stands at $1.16, while the 200-day moving average is $0.91. Within the past year, Allakos' stock hit a low of $0.54 and a high of $3.36.

The latest earnings report from Allakos was disclosed on November 6th, where the company reported earnings of ($0.21) per share for the quarter, slightly surpassing the analysts' consensus estimate of ($0.22) by $0.01. Analysts predict that Allakos will report an EPS of -1.16 for the current fiscal year.

About Allakos

Allakos Inc. is a clinical-stage biotechnology company focused on developing therapeutics that target immunomodulatory receptors on immune cells to treat various allergic, inflammatory, and proliferative diseases in the United States. The company's leading product candidate is AK006, currently undergoing a Phase I clinical trial for chronic spontaneous urticaria and other indications.

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