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

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 27,299 shares, an increase of 66.2% from the July 15th total of 16,430 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily trading volume, of 37,573 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 reporting period. 5.06% of the stock is owned by institutional investors.

Akari Therapeutics Price Performance

Shares of NASDAQ AKTX opened at $7.52 on Tuesday. The company’s fifty day moving average is $10.46 and its 200-day moving average is $9.00. Akari Therapeutics has a twelve month low of $3.02 and a twelve month high of $49.60.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen cut shares of Akari Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Weiss Ratings raised Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Finally, Maxim Group upgraded Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

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.