Akari Therapeutics (NASDAQ:AKTX) Shares Pass Above 50-Day Moving Average – What’s Next?

Shares of Akari Therapeutics PLC (NASDAQ:AKTX) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.65 and traded as high as $12.04. Akari Therapeutics shares last traded at $10.96, with a volume of 128,527 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen raised Akari Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings raised Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Finally, Maxim Group upgraded 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. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Akari Therapeutics Trading Up 2.9%

The firm’s fifty day moving average is $9.66 and its 200-day moving average is $9.02.

Institutional Trading of Akari Therapeutics

An institutional investor recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

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.