Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Update

Akari Therapeutics PLC (NASDAQ:AKTX) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 64,685 shares, an increase of 300.9% from the April 30th total of 16,135 shares. Approximately 8.2% of the shares of the company are sold short. Based on an average daily trading volume, of 35,844 shares, the days-to-cover ratio is presently 1.8 days.

Akari Therapeutics Trading Down 25.5%

Shares of AKTX stock opened at $16.43 on Friday. The stock has a 50 day simple moving average of $6.47 and a 200 day simple moving average of $10.24. Akari Therapeutics has a 1 year low of $3.02 and a 1 year high of $56.80.

Akari Therapeutics (NASDAQ:AKTX) last issued 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).

Institutional Investors Weigh In On Akari Therapeutics

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter. Institutional investors own 5.06% of the company’s stock.

Analyst Ratings Changes

AKTX has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Monday, April 20th. HC Wainwright boosted their price target on Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Finally, Maxim Group cut Akari Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.00.

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.