StockNews.com Begins Coverage on Akari Therapeutics (NASDAQ:AKTX)

Investment analysts at StockNews.com began coverage on shares of Akari Therapeutics (NASDAQ:AKTX – Get Rating) in a research note issued on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Akari Therapeutics Trading Down 7.5 %

AKTX stock opened at $0.19 on Wednesday. The firm has a market cap of $13.97 million, a P/E ratio of -0.54 and a beta of 1.31. Akari Therapeutics has a 12-month low of $0.14 and a 12-month high of $1.61. The stock’s 50 day simple moving average is $0.20 and its 200 day simple moving average is $0.38.

Institutional Investors Weigh In On Akari Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in Akari Therapeutics by 411.4% in the first quarter. Renaissance Technologies LLC now owns 283,550 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 228,100 shares during the period. LPL Financial LLC acquired a new stake in Akari Therapeutics in the second quarter worth $83,000. Sabby Management LLC increased its position in Akari Therapeutics by 116.5% in the first quarter. Sabby Management LLC now owns 7,941,867 shares of the biopharmaceutical company’s stock worth $1,443,000 after buying an additional 4,273,528 shares during the period. Finally, Armistice Capital LLC acquired a new stake in Akari Therapeutics in the third quarter worth $2,703,000. 13.59% of the stock is owned by institutional investors and hedge funds.

Akari Therapeutics Company Profile

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Akari Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of therapeutics to treat orphan autoimmune and inflammatory diseases. Its lead product candidate, Nomacopan, is a second-generation complement inhibitor. The company was founded on October 7, 2004 and is headquartered in London, the United Kingdom.