Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Declines By 19.4%

Akari Therapeutics PLC (NASDAQ:AKTX) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 168,708 shares, a drop of 19.4% from the February 26th total of 209,369 shares. Based on an average trading volume of 330,160 shares, the short-interest ratio is currently 0.5 days. Approximately 0.5% of the shares of the company are short sold.

Akari Therapeutics Stock Performance

Shares of AKTX stock 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 business’s fifty day moving average is $0.23 and its 200 day moving average is $0.46.

Akari Therapeutics shares are set to reverse split on the morning of Tuesday, March 31st. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, March 30th.

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) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AKTX shares. LADENBURG THALM/SH SH initiated coverage on Akari Therapeutics in a report on Monday, January 5th. They set a “buy” rating and a $1.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2.53.

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.