Akari Therapeutics (NASDAQ:AKTX) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Akari Therapeutics PLC (NASDAQ:AKTX) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.65 and traded as low as $0.2220. Akari Therapeutics shares last traded at $0.2250, with a volume of 272,148 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. LADENBURG THALM/SH SH began coverage on shares of Akari Therapeutics in a report on Monday, January 5th. They set a “buy” rating and a $1.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2.53.

Akari Therapeutics Trading Down 2.2%

The firm’s 50 day moving average is $0.29 and its two-hundred day moving average is $0.65.

Institutional Investors Weigh In On Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC lifted its holdings in shares of 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 Securities and Exchange Commission. The fund owned 822,468 shares of the biopharmaceutical company’s stock after acquiring an additional 804,060 shares during the period. Cresset Asset Management LLC owned 2.52% of Akari Therapeutics worth $831,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.06% of the company’s stock.

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.