Akari Therapeutics (NASDAQ:AKTX) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Akari Therapeutics (NASDAQ:AKTX) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.

Several other brokerages have also recently weighed in on AKTX. HC Wainwright boosted their price objective 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 raised Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, July 20th. Finally, Weiss Ratings upgraded 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Akari Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Akari Therapeutics Price Performance

AKTX opened at $8.70 on Friday. Akari Therapeutics has a fifty-two week low of $3.02 and a fifty-two week high of $49.60. The company’s 50 day moving average price is $12.26 and its two-hundred day moving average price is $9.39.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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 filing with the 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.