Allakos Inc. (ALLK:NSD) experienced a significant rise in short interest during the month of March. As of March 31st, there were 4,360,000 shares shorted, marking a 17.2% increase from the total of 3,720,000 shares shorted on March 15th. This amounts to approximately 9.3% of the ALLK stock total shares being sold short. With an average daily trading volume of 1,040,000 shares, the short-interest ratio is currently 4.2 days.
Institutional Holdings:
Several major investors have recently adjusted their holdings in ALLK. During the first quarter, Swiss National Bank boosted its stake in Allakos by 8.1%, acquiring an additional 5,800 shares, bringing its total holdings to 77,100 shares valued at $439,000.
JPMorgan Chase & Co. also increased its position in ALLK by 258.1% during the first quarter, purchasing an additional 385,878 shares and bringing its total holdings to 535,368 shares valued at $3,052,000.
Bank of New York Mellon Corp raised its position in ALLK by 27.7%, acquiring an additional 39,395 shares during the quarter and bringing its total holdings to 181,550 shares valued at $1,034,000.
BlackRock Inc. boosted its stake in ALLK by 8.4%, acquiring an additional 226,498 shares and bringing its total holdings to 2,911,899 shares valued at $16,599,000.
Finally, Canada Pension Plan Investment Board acquired a new position in ALLK during the first quarter, worth approximately $1,077,000. Institutional investors now own 93.07% of the ALLK stock.
ALLK Stock Price Analysis:
Shares of ALLK opened at $4.14 on Wednesday, with a market capitalization of $354.72 million, a price-to-earnings ratio of -0.75, and a beta of 0.45. ALLK’s 1-year low is $2.54, while its 1-year high is $8.73. The stock’s 50-day simple moving average is $5.28, and its 200-day simple moving average is $6.49.
According to Stock Target Advisor, ALLK stock has an average rating of “Buy” and a consensus target price of $10.75.
Quarterly Earnings Review:
On March 6th, Allakos released its quarterly earnings report, reporting a loss of ($0.50) in earnings per share (EPS), which was in line with analysts’ consensus estimate of ($0.50) in EPS. Analysts anticipate that the company will report an EPS of -2.17 for the current fiscal year.
ALLK Stock-Analyst Ratings:
Several research analysts have recently commented on ALLK. Morgan Stanley raised their price target on ALLK from $6.00 to $8.00 and rated the stock as “equal weight” in a report on Friday, January 27th.
Piper Sandler initiated coverage of ALLK in a report on Tuesday, March 7th, giving the ALLK stock an “overweight” rating and a $22.00 price target.
Piper Jaffray Companies also initiated coverage of ALLK on the same day, with an “overweight” rating and a $22.00 price target.
Cantor Fitzgerald reissued an “overweight” rating and gave a $7.00 price target on ALLK stock shares in a report on Tuesday, March 7th. Currently, one analyst rates the stock as a sell, one as a hold, and three as a buy.
Company Profile:
Allakos Inc., a clinical-stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases.
In addition, Allakos Inc. is conducting preclinical studies for AK007, which polarizes tumor-associated myeloid cells and promotes anti-tumor immunity. The company was incorporated in 2012 and is headquartered in San Carlos, California.
