Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Declines By 62.9%

Akari Therapeutics PLC (NASDAQ:AKTX) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 45,077 shares, a drop of 62.9% from the May 31st total of 121,540 shares. Based on an average daily volume of 88,099 shares, the short-interest ratio is presently 0.5 days. Currently, 5.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Akari Therapeutics to a “sell” rating in a report on Saturday. Maxim Group lowered shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, HC Wainwright lifted their price target on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Akari Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $89.00.

Akari Therapeutics Price Performance

Shares of NASDAQ:AKTX opened at $10.62 on Friday. The business has a 50-day moving average price of $9.80 and a 200 day moving average price of $9.48. Akari Therapeutics has a 12-month low of $3.02 and a 12-month high of $49.60.

Akari Therapeutics (NASDAQ:AKTX) last posted its earnings results on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) EPS for the quarter, missing analysts’ consensus estimates of ($1.33) by ($686.67).

Institutional Trading of Akari Therapeutics

An institutional investor recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC acquired a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned approximately 5.95% of Akari Therapeutics at the end of the most recent quarter. 5.06% of the stock is owned by hedge funds and other institutional investors.

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.