Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Update

Akari Therapeutics PLC (NASDAQ:AKTX) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 17,997 shares, a drop of 60.1% from the June 15th total of 45,077 shares. Based on an average daily volume of 121,877 shares, the short-interest ratio is presently 0.1 days. Approximately 2.3% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities analysts recently commented on AKTX shares. Wall Street Zen raised shares of Akari Therapeutics to a “sell” rating in a research note on Saturday, June 27th. Maxim Group cut shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 8th. HC Wainwright upped their price target on shares of Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings upgraded shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Two 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 data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC acquired a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned 5.95% of Akari Therapeutics at the end of the most recent reporting period. 5.06% of the stock is currently owned by institutional investors and hedge funds.

Akari Therapeutics Price Performance

AKTX stock opened at $13.40 on Tuesday. The stock has a 50-day moving average price of $11.20 and a 200-day moving average price of $9.40. Akari Therapeutics has a 1-year low of $3.02 and a 1-year high of $49.60.

Akari Therapeutics (NASDAQ:AKTX) last released its quarterly earnings data on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.33) by ($686.67).

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.