Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Increases By 151.7%

Akari Therapeutics PLC (NASDAQ:AKTX) saw a significant growth in short interest in April. As of April 15th, there was short interest totaling 14,622 shares, a growth of 151.7% from the March 31st total of 5,810 shares. Based on an average trading volume of 45,393 shares, the days-to-cover ratio is presently 0.3 days. Approximately 1.8% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AKTX. Maxim Group downgraded Akari Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, April 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Monday, April 20th. HC Wainwright increased their price objective on Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, LADENBURG THALM/SH SH began coverage on Akari Therapeutics in a report on Monday, January 5th. They set a “buy” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.00.

Institutional Trading of Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC boosted its position in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 822,468 shares of the biopharmaceutical company’s stock after buying 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 quarter. 5.06% of the stock is owned by hedge funds and other institutional investors.

Akari Therapeutics Stock Down 7.5%

AKTX opened at $5.55 on Friday. The business has a 50 day moving average of $7.08 and a 200-day moving average of $14.03. Akari Therapeutics has a 12-month low of $3.25 and a 12-month high of $59.20.

Akari Therapeutics (NASDAQ:AKTX) last announced its quarterly earnings data on Monday, March 30th. The biopharmaceutical company reported ($2.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($2.65).

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.