Akari Therapeutics (NASDAQ:AKTX) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Akari Therapeutics Stock Performance

AKTX stock opened at $1.20 on Tuesday. The business has a 50 day moving average price of $2.00 and a 200 day moving average price of $2.75. Akari Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $5.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Omnia Family Wealth LLC increased its position in Akari Therapeutics by 48.2% during the fourth quarter. Omnia Family Wealth LLC now owns 87,628 shares of the biopharmaceutical company’s stock worth $273,000 after buying an additional 28,511 shares during the period. Cerity Partners LLC acquired a new position in Akari Therapeutics during the second quarter worth approximately $55,000. Sabby Management LLC increased its position in Akari Therapeutics by 116.5% during 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. Renaissance Technologies LLC increased its position in Akari Therapeutics by 411.4% during 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. Finally, LPL Financial LLC acquired a new position in shares of Akari Therapeutics in the second quarter valued at approximately $83,000. Institutional investors and hedge funds own 5.06% of the company’s stock.

About Akari Therapeutics

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on developing advanced therapies for autoimmune and inflammatory diseases. Its lead product candidate is nomacopan, a second-generation complement inhibitor that prevents inflammatory and prothrombotic activities, including paroxysmal nocturnal hemoglobinuria, Guillain-Barré syndrome, hematopoietic stem cell transplant-associated thrombotic microangiopathy, and bullous pemphigoid, as well as pre-clinical program developing long-acting PASylated-nomacopan for treatment of geographic atrophy secondary to dry age-related macular degeneration.