Akari Therapeutics (NASDAQ:AKTX) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Akari Therapeutics PLC (NASDAQ:AKTX) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.65 and traded as low as $0.2220. Akari Therapeutics shares last traded at $0.2250, with a volume of 272,148 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on Akari Therapeutics in a research note on Monday, January 5th. They set a “buy” rating and a $1.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Akari Therapeutics Stock Performance

The firm’s 50 day moving average price is $0.29 and its 200-day moving average price is $0.64.

Institutional Investors Weigh In On Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC increased its position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 approximately 2.52% of Akari Therapeutics worth $831,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 5.06% of the company’s stock.

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.