Akari Therapeutics (NASDAQ:AKTX) Downgraded by Maxim Group to Hold

Akari Therapeutics (NASDAQ:AKTX) was downgraded by equities researchers at Maxim Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,Finviz reports.

Other analysts have also issued reports about the company. LADENBURG THALM/SH SH initiated coverage on Akari Therapeutics in a report on Monday, January 5th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright boosted their price target on Akari Therapeutics to $27.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Akari Therapeutics has an average rating of “Hold” and an average price target of $89.00.

Akari Therapeutics Stock Performance

Shares of Akari Therapeutics stock opened at $3.80 on Wednesday. The stock’s 50-day moving average is $8.25 and its 200-day moving average is $16.97. Akari Therapeutics has a one year low of $3.25 and a one year high of $63.20.

Akari Therapeutics (NASDAQ:AKTX) last issued its quarterly earnings results on Monday, March 30th. The biopharmaceutical company reported ($2.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($2.65).

Institutional Trading of Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC lifted its stake in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 822,468 shares of the biopharmaceutical company’s stock after acquiring 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 SEC filing. 5.06% of the stock is currently owned by hedge funds and other institutional investors.

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.