Akari Therapeutics (NASDAQ:AKTX) Stock Crosses Below 200-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 $15.38 and traded as low as $5.08. Akari Therapeutics shares last traded at $5.80, with a volume of 20,264 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AKTX shares. Maxim Group cut shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. HC Wainwright upped their price target on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, January 21st. Finally, LADENBURG THALM/SH SH started coverage on shares of Akari Therapeutics in a research report on Monday, January 5th. They issued a “buy” rating and a $40.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.00.

Akari Therapeutics Stock Performance

The company’s 50-day moving average price is $7.46 and its two-hundred day moving average price is $15.38.

Akari Therapeutics (NASDAQ:AKTX) last posted its quarterly earnings data 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).

Institutional Investors Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned approximately 5.95% of Akari Therapeutics at the end of the most recent quarter. Institutional investors own 5.06% of the company’s stock.

About Akari Therapeutics

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.