Akari Therapeutics PLC (NASDAQ:AKTX) Sees Large Decline in Short Interest

Akari Therapeutics PLC (NASDAQ:AKTX) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 10,763 shares, a decrease of 64.3% from the August 31st total of 30,117 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 101,607 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Maxim Group upgraded Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, July 20th. Alliance Global Partners upgraded Akari Therapeutics to a “strong-buy” rating in a report on Friday, September 18th. Finally, Wall Street Zen raised Akari Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.33.

Akari Therapeutics Stock Performance

Shares of Akari Therapeutics stock traded up $0.05 during midday trading on Tuesday, hitting $9.86. The company’s stock had a trading volume of 14,415 shares, compared to its average volume of 292,041. Akari Therapeutics has a 1-year low of $3.02 and a 1-year high of $44.20. The stock has a 50-day simple moving average of $9.07 and a 200-day simple moving average of $9.03.

Akari Therapeutics Company Profile

Akari Therapeutics plc is a clinical-stage biotechnology company developing therapies for autoimmune and inflammatory diseases. The company’s research is focused on modulating the complement system and inflammatory pathways that contribute to tissue damage and disease progression.

Akari’s lead investigational product is nomacopan, a recombinant small protein originally derived from tick saliva. Nomacopan is designed to inhibit complement component C5 and leukotriene B4, two pathways involved in inflammation.