Akari Therapeutics Stock Scheduled to Reverse Split on Tuesday, March 31st (NASDAQ:AKTX)

Shares of Akari Therapeutics PLC (NASDAQ:AKTX) are scheduled to reverse split on Tuesday, March 31st. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 30th.

Akari Therapeutics Stock Down 10.6%

Shares of NASDAQ AKTX opened at $0.13 on Monday. Akari Therapeutics has a 52 week low of $0.13 and a 52 week high of $1.58. The firm’s fifty day moving average is $0.24 and its 200 day moving average is $0.48.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AKTX shares. LADENBURG THALM/SH SH started coverage on shares of Akari Therapeutics in a research note on Monday, January 5th. They set a “buy” rating and a $1.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Akari Therapeutics in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2.53.

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 position in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to 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 approximately 5.95% of Akari Therapeutics at the end of the most recent reporting period. 5.06% of the stock is currently owned by institutional investors.

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.