Wall Street Zen Downgrades Akari Therapeutics (NASDAQ:AKTX) to Strong Sell

Akari Therapeutics (NASDAQ:AKTX) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

AKTX has been the topic of a number of other reports. Weiss Ratings raised shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. HC Wainwright increased 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. Finally, Maxim Group raised shares of Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, July 20th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Akari Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Akari Therapeutics Price Performance

NASDAQ:AKTX opened at $8.70 on Friday. The business has a fifty day simple moving average of $12.26 and a two-hundred day simple moving average of $9.39. Akari Therapeutics has a 1 year low of $3.02 and a 1 year high of $49.60.

Institutional Investors Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC acquired a new stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 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.