Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Decreases By 51.1%

Akari Therapeutics PLC (NASDAQ:AKTX) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 211,849 shares, a decrease of 51.1% from the December 31st total of 433,343 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 375,479 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 375,479 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.0% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of research firms recently commented on AKTX. LADENBURG THALM/SH SH initiated coverage on Akari Therapeutics in a research report on Monday, January 5th. They set a “buy” rating and a $1.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC increased its position in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 2.52% of Akari Therapeutics worth $831,000 at the end of the most recent quarter. 5.06% of the stock is currently owned by institutional investors.

Akari Therapeutics Stock Down 7.5%

Shares of Akari Therapeutics stock opened at $0.25 on Thursday. The stock’s fifty day moving average is $0.32 and its 200 day moving average is $0.68. Akari Therapeutics has a one year low of $0.22 and a one year high of $1.73.

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.