Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Increases By 66.2%

Akari Therapeutics PLC (NASDAQ:AKTX) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 27,299 shares, an increase of 66.2% from the July 15th total of 16,430 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 37,573 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC bought a new position in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 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 quarter. 5.06% of the stock is currently owned by institutional investors and hedge funds.

Akari Therapeutics Stock Performance

Shares of AKTX opened at $7.54 on Monday. Akari Therapeutics has a one year low of $3.02 and a one year high of $49.60. The company has a 50-day simple moving average of $10.62 and a two-hundred day simple moving average of $9.03.

Wall Street Analyst Weigh In

Several research firms have commented on AKTX. Wall Street Zen downgraded shares of Akari Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Weiss Ratings raised shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Finally, Maxim Group raised shares of Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Akari Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

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.