Akari Therapeutics (NASDAQ:AKTX) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Akari Therapeutics PLC (NASDAQ:AKTX) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.93 and traded as low as $0.3269. Akari Therapeutics shares last traded at $0.3390, with a volume of 134,980 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $1.60 price objective on shares of Akari Therapeutics in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Akari Therapeutics has an average rating of “Hold” and an average target price of $3.30.

Akari Therapeutics Price Performance

The stock’s 50-day moving average price is $0.69 and its 200 day moving average price is $0.93.

Institutional Investors Weigh In On Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC increased its holdings in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 822,468 shares of the biopharmaceutical company’s stock after purchasing an additional 804,060 shares during the period. Cresset Asset Management LLC owned approximately 2.52% of Akari Therapeutics worth $831,000 at the end of the most recent reporting period. 5.06% of the stock is owned by institutional investors and hedge funds.

Akari Therapeutics Company Profile

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.