Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Down 62.9% in June

Akari Therapeutics PLC (NASDAQ:AKTX) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 45,077 shares, a drop of 62.9% from the May 31st total of 121,540 shares. Based on an average trading volume of 88,099 shares, the days-to-cover ratio is currently 0.5 days. Currently, 5.8% of the company’s shares are sold short.

Analyst Ratings Changes

AKTX has been the topic of a number of recent research reports. HC Wainwright boosted their price target on shares of Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Maxim Group lowered shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen raised shares of Akari Therapeutics to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $89.00.

Akari Therapeutics Trading Up 11.6%

Shares of NASDAQ AKTX opened at $10.62 on Friday. The business’s fifty day simple moving average is $9.80 and its 200-day simple moving average is $9.48. Akari Therapeutics has a 12-month low of $3.02 and a 12-month high of $49.60.

Akari Therapeutics (NASDAQ:AKTX) last released its earnings results on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) EPS for the quarter, missing the consensus estimate of ($1.33) by ($686.67).

Institutional Trading of Akari Therapeutics

A hedge fund recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC bought a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned approximately 5.95% of Akari Therapeutics as of its most recent SEC filing. 5.06% of the stock is currently owned by institutional investors.

Akari Therapeutics Company Profile

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.