Akari Therapeutics (NASDAQ:AKTX) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Akari Therapeutics PLC (NASDAQ:AKTX) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.01 and traded as low as $0.4642. Akari Therapeutics shares last traded at $0.5306, with a volume of 213,385 shares.

Wall Street Analysts Forecast Growth

AKTX has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $1.60 price objective on shares of Akari Therapeutics in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.30.

Akari Therapeutics Stock Up 12.0%

The firm has a fifty day moving average price of $0.80 and a 200 day moving average price of $1.01.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC boosted its stake in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 822,468 shares of the biopharmaceutical company’s stock after purchasing an additional 804,060 shares during the quarter. Cresset Asset Management LLC owned about 2.52% of Akari Therapeutics worth $831,000 as of its most recent SEC filing. Institutional investors own 5.06% of the company’s stock.

About Akari Therapeutics

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on developing advanced therapies for autoimmune and inflammatory diseases. Its lead product candidate is nomacopan, a second-generation complement inhibitor that prevents inflammatory and prothrombotic activities, including paroxysmal nocturnal hemoglobinuria, Guillain-Barré syndrome, hematopoietic stem cell transplant-associated thrombotic microangiopathy, and bullous pemphigoid, as well as pre-clinical program developing long-acting PASylated-nomacopan for treatment of geographic atrophy secondary to dry age-related macular degeneration.