Akari Therapeutics PLC (NASDAQ:AKTX) Sees Significant Decrease in Short Interest

Akari Therapeutics PLC (NASDAQ:AKTX) was the recipient of a significant drop in short interest in 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. Approximately 5.8% of the shares of the stock are sold short.

Akari Therapeutics Price Performance

NASDAQ:AKTX traded up $0.28 during trading hours on Monday, hitting $11.01. 155,617 shares of the company traded hands, compared to its average volume of 408,474. The firm has a 50-day moving average of $9.80 and a 200 day moving average of $9.45. Akari Therapeutics has a twelve month low of $3.02 and a twelve month high of $49.60.

Akari Therapeutics (NASDAQ:AKTX) last released its quarterly earnings results on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($686.67).

Wall Street Analyst Weigh In

AKTX has been the subject of a number of research reports. Wall Street Zen upgraded Akari Therapeutics to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Monday, April 20th. Maxim Group cut shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, HC Wainwright raised their price objective on Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Akari Therapeutics has an average rating of “Hold” and an average target price of $89.00.

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new position in Akari Therapeutics PLC (NASDAQ:AKTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned 5.95% of Akari Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 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.