Akari Therapeutics (NASDAQ:AKTX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a research report issued on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Akari Therapeutics Stock Performance

Shares of AKTX opened at $1.20 on Tuesday. The business has a fifty day moving average of $2.00 and a 200 day moving average of $2.75. Akari Therapeutics has a 52-week low of $1.10 and a 52-week high of $5.50.

Institutional Trading of Akari Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sabby Management LLC raised its holdings in shares of Akari Therapeutics by 116.5% in the first quarter. Sabby Management LLC now owns 7,941,867 shares of the biopharmaceutical company’s stock valued at $1,443,000 after acquiring an additional 4,273,528 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Akari Therapeutics in the second quarter valued at about $55,000. Renaissance Technologies LLC raised its holdings in shares of Akari Therapeutics by 411.4% in the first quarter. Renaissance Technologies LLC now owns 283,550 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 228,100 shares in the last quarter. Omnia Family Wealth LLC raised its holdings in shares of Akari Therapeutics by 48.2% in the fourth quarter. Omnia Family Wealth LLC now owns 87,628 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 28,511 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in Akari Therapeutics in the second quarter valued at about $83,000. 5.06% of the stock is currently owned by institutional investors.

Akari Therapeutics Company Profile

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on developing advanced therapies for autoimmune and inflammatory diseases. Its lead product candidate is nomacopan, a second-generation complement inhibitor that prevents inflammatory and prothrombotic activities, including paroxysmal nocturnal hemoglobinuria, Guillain-Barré syndrome, hematopoietic stem cell transplant-associated thrombotic microangiopathy, and bullous pemphigoid, as well as pre-clinical program developing long-acting PASylated-nomacopan for treatment of geographic atrophy secondary to dry age-related macular degeneration.