Australia markets closed
  • ALL ORDS

    7,270.00
    +3.40 (+0.05%)
     
  • ASX 200

    7,068.80
    +3.60 (+0.05%)
     
  • AUD/USD

    0.6443
    +0.0026 (+0.40%)
     
  • OIL

    90.33
    +0.70 (+0.78%)
     
  • GOLD

    1,944.90
    +5.30 (+0.27%)
     
  • Bitcoin AUD

    41,255.07
    -1.97 (-0.00%)
     
  • CMC Crypto 200

    565.87
    -2.18 (-0.38%)
     
  • AUD/EUR

    0.6049
    +0.0036 (+0.60%)
     
  • AUD/NZD

    1.0810
    -0.0001 (-0.01%)
     
  • NZX 50

    11,372.62
    +53.88 (+0.48%)
     
  • NASDAQ

    14,701.10
    +6.85 (+0.05%)
     
  • FTSE

    7,683.91
    +5.29 (+0.07%)
     
  • Dow Jones

    33,963.84
    -106.58 (-0.31%)
     
  • DAX

    15,557.29
    -14.57 (-0.09%)
     
  • Hang Seng

    18,057.45
    +402.04 (+2.28%)
     
  • NIKKEI 225

    32,402.41
    -168.62 (-0.52%)
     

Why Allakos Stock Is on Fire Today

Specifically, the clinical-stage immunomodulatory receptor specialist's stock price was up by a healthy 24.7%, on heavy volume, as of 1:15 p.m. ET Wednesday afternoon. After all, Allakos stock has been a prime short-seller target ever since the biotech's late-stage monoclonal antibody lirentelimab missed the goalpost as a treatment for eosinophilic gastrointestinal diseases late last year. This small-cap biotech is the epitome of a high-risk, high-reward play.