Allakos Inc. (NASDAQ:ALLK) Short Interest Update

Allakos Inc. (NASDAQ:ALLK) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 1,940,000 shares, a decline of 16.0% from the August 15th total of 2,310,000 shares. Based on an average daily trading volume, of 554,000 shares, the short-interest ratio is currently 3.5 days.

Allakos Price Performance

Shares of NASDAQ ALLK opened at $0.60 on Monday. Allakos has a 1 year low of $0.56 and a 1 year high of $3.41. The stock has a market capitalization of $53.72 million, a P/E ratio of -0.25 and a beta of 1.16. The company has a 50-day moving average price of $0.75 and a 200-day moving average price of $1.05.

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

Insider Transactions at Allakos

In other news, CFO Harlan Baird Radford sold 87,064 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1.01, for a total value of $87,934.64. Following the completion of the transaction, the chief financial officer now owns 204,390 shares of the company’s stock, valued at $206,433.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.12% of the stock is owned by insiders.

Institutional Trading of Allakos

A number of institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in Allakos by 1,753.1% in the 1st quarter. Acadian Asset Management LLC now owns 1,331,639 shares of the company’s stock valued at $1,677,000 after purchasing an additional 1,259,778 shares during the period. Vanguard Group Inc. grew its position in Allakos by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock valued at $4,781,000 after buying an additional 539,087 shares during the period. Aristides Capital LLC bought a new position in Allakos during the fourth quarter valued at about $153,000. BNP Paribas Financial Markets increased 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 worth $259,000 after buying an additional 187,640 shares during the last quarter. Finally, Ikarian Capital LLC raised its position in 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 acquiring an additional 695,619 shares during the period. 84.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $3.00 target price on shares of Allakos in a report on Wednesday, June 26th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Allakos in a report on Thursday, June 20th. Finally, Jefferies Financial Group reduced their target price on Allakos from $1.50 to $1.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1.67.

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.