Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Drops By 60.1%

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 17,997 shares, a drop of 60.1% from the June 15th total of 45,077 shares. Based on an average trading volume of 121,877 shares, the days-to-cover ratio is currently 0.1 days. Approximately 2.3% of the shares of the stock are short sold.

Akari Therapeutics Trading Up 0.1%

NASDAQ AKTX opened at $13.42 on Wednesday. The company’s 50 day simple moving average is $11.36 and its 200 day simple moving average is $9.42. Akari Therapeutics has a 12 month low of $3.02 and a 12 month high of $49.60.

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

Analysts Set New Price Targets

AKTX has been the subject of a number of research reports. HC Wainwright increased their price target on Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Weiss Ratings raised Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Wall Street Zen upgraded Akari Therapeutics to a “sell” rating in a report on Saturday, June 27th. Finally, Maxim Group cut Akari Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Akari Therapeutics presently has an average rating of “Hold” and a consensus target price of $89.00.

Institutional Investors Weigh In On Akari Therapeutics

A hedge fund recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC bought a new stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned about 5.95% of Akari Therapeutics as of its most recent SEC filing. 5.06% of the stock is currently owned by hedge funds and other institutional investors.

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.