Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Declines By 19.4%

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 168,708 shares, a drop of 19.4% from the February 26th total of 209,369 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 330,160 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

AKTX has been the subject of several research analyst reports. LADENBURG THALM/SH SH began coverage on shares of Akari Therapeutics in a research report on Monday, January 5th. They set a “buy” rating and a $1.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Akari Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $2.53.

Akari Therapeutics Price Performance

AKTX stock opened at $0.12 on Tuesday. The firm has a 50-day moving average price of $0.23 and a 200-day moving average price of $0.45. Akari Therapeutics has a 12 month low of $0.12 and a 12 month high of $1.58.

Akari Therapeutics (NASDAQ:AKTX) last announced its quarterly earnings results on Monday, March 30th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter.

Institutional Trading of Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC increased its position in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 822,468 shares of the biopharmaceutical company’s stock after buying an additional 804,060 shares during the quarter. Cresset Asset Management LLC owned 2.52% of Akari Therapeutics worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 5.06% of the stock is currently owned by institutional investors.

About Akari Therapeutics

Akari Therapeutics plc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel complement inhibitors for the treatment of inflammatory and immunological diseases. The company’s research centers on modulation of the complement cascade, a key component of the innate immune system, with the goal of delivering targeted therapies to patients suffering from rare and severe disorders.

Akari’s lead pipeline asset is sutimlimab, a humanized monoclonal antibody that selectively inhibits the C1s protein and is being evaluated in pivotal clinical studies for cold agglutinin disease.