Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Down 96.6% in March

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 5,810 shares, a decline of 96.6% from the March 15th total of 168,708 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 14,688 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned about 5.95% of Akari Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 5.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AKTX has been the subject of a number of recent analyst reports. Maxim Group downgraded shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, January 21st. LADENBURG THALM/SH SH assumed coverage on Akari Therapeutics in a research report on Monday, January 5th. They set a “buy” rating and a $40.00 price target for the company. Finally, HC Wainwright boosted their price target on Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.00.

Akari Therapeutics Stock Down 2.3%

Shares of NASDAQ AKTX opened at $3.83 on Friday. Akari Therapeutics has a 1-year low of $3.25 and a 1-year high of $63.20. The business has a 50-day moving average of $7.90 and a 200-day moving average of $16.49.

Akari Therapeutics (NASDAQ:AKTX) last issued its earnings results on Monday, March 30th. The biopharmaceutical company reported ($2.68) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($2.65).

Akari Therapeutics Company Profile

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.