StockNews.com initiated coverage on shares of Akari Therapeutics (NASDAQ:AKTX – Get Rating) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.
AKTX stock opened at $1.17 on Thursday. The firm has a 50 day moving average price of $1.19 and a 200-day moving average price of $1.40. Akari Therapeutics has a 52-week low of $1.05 and a 52-week high of $2.01. The firm has a market capitalization of $69.44 million, a price-to-earnings ratio of -2.29 and a beta of 1.24.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hikari Power Ltd increased its position in shares of Akari Therapeutics by 45.7% during the first quarter. Hikari Power Ltd now owns 130,821 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 41,006 shares in the last quarter. Wsfs Capital Management LLC bought a new stake in Akari Therapeutics in the 4th quarter worth approximately $150,000. Omnia Family Wealth LLC grew its position in Akari Therapeutics by 42.8% in the 4th quarter. Omnia Family Wealth LLC now owns 667,085 shares of the biopharmaceutical company’s stock worth $1,001,000 after purchasing an additional 200,000 shares during the period. Millennium Management LLC bought a new stake in Akari Therapeutics in the 3rd quarter worth approximately $25,000. Finally, Citadel Advisors LLC grew its position in Akari Therapeutics by 88.6% in the 2nd quarter. Citadel Advisors LLC now owns 52,265 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 24,553 shares during the period. 2.50% of the stock is owned by institutional investors.
Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of treatments for autoinflammatory diseases that involve complement and leukotriene pathways. Its lead product candidate is nomacopan, a second-generation complement inhibitor that is in Phase II clinical trial for the treatment of autoimmune and inflammatory diseases, including paroxysmal nocturnal hemoglobinuria, guillain barré syndrome, hematopoietic stem cell transplant-associated thrombotic microangiopathy, and bullous pemphigoid.
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