Akari Therapeutics (NASDAQ:AKTX) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Akari Therapeutics PLC (NASDAQ:AKTX) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.65 and traded as low as $0.2220. Akari Therapeutics shares last traded at $0.2250, with a volume of 272,148 shares changing hands.

Wall Street Analyst Weigh In

AKTX has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. LADENBURG THALM/SH SH began coverage on Akari Therapeutics in a research report on Monday, January 5th. They set a “buy” rating and a $1.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Akari Therapeutics Stock Down 2.2%

The stock’s 50 day moving average price is $0.29 and its two-hundred day moving average price is $0.65.

Institutional Investors Weigh In On Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC lifted its holdings in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 822,468 shares of the biopharmaceutical company’s stock after buying an additional 804,060 shares during the period. Cresset Asset Management LLC owned approximately 2.52% of Akari Therapeutics worth $831,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 5.06% of the company’s stock.

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.