Wall Street Zen Upgrades Akari Therapeutics (NASDAQ:AKTX) to Sell

Akari Therapeutics (NASDAQ:AKTX) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently weighed in on AKTX. Maxim Group upgraded shares of Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Monday, July 20th. Weiss Ratings upgraded shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Akari Therapeutics Stock Performance

Shares of Akari Therapeutics stock opened at $7.85 on Friday. Akari Therapeutics has a 1 year low of $3.02 and a 1 year high of $49.60. The company has a 50 day simple moving average of $9.93 and a two-hundred day simple moving average of $8.96.

Institutional Trading of Akari Therapeutics

An institutional investor recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC bought a new position in Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period. 5.06% of the stock is owned by hedge funds and other 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.