Akari Therapeutics (NASDAQ:AKTX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Akari Therapeutics PLC is a biopharmaceutical company. It focused on the development and commercialization of innovative therapeutics to treat orphan autoimmune and inflammatory diseases. The Company’s lead drug consist of Coversin is a recombinant small protein, which acts on complement component-C5, preventing release of C5a and formation of C5b-9. Akari Therapeutics PLC, formerly known as Celsus Therapeutics Plc, is based in London, United Kingdom. “

Shares of Akari Therapeutics stock traded down $0.05 during mid-day trading on Friday, hitting $1.90. The stock had a trading volume of 56,649 shares, compared to its average volume of 2,970,000. The firm has a 50-day moving average of $1.89 and a two-hundred day moving average of $2.50. Akari Therapeutics has a 12-month low of $1.56 and a 12-month high of $9.20. The firm has a market cap of $29.33 million, a P/E ratio of -11.18 and a beta of -2.85.

Akari Therapeutics Company Profile

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of treatments for a range of rare and orphan autoimmune and inflammatory diseases. Its lead drug candidate is Coversin, a second-generation complement inhibitor that is in Phase II clinical trial for the treatment of autoimmune and inflammatory diseases, including paroxysmal nocturnal hemoglobinuria, guillain barré syndrome, and atypical hemolytic uremic syndrome.

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