Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Up 650.6% in December

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 519,225 shares, an increase of 650.6% from the November 30th total of 69,172 shares. Based on an average daily trading volume, of 2,333,715 shares, the days-to-cover ratio is presently 0.2 days. Currently, 2.4% of the company’s stock are sold short. Currently, 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 2,333,715 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC lifted its stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 822,468 shares of the biopharmaceutical company’s stock after purchasing an additional 804,060 shares during the quarter. Cresset Asset Management LLC owned about 2.52% of Akari Therapeutics worth $831,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 5.06% of the company’s stock.

Analyst Upgrades and Downgrades

AKTX has been the topic of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $1.60 price objective on shares of Akari Therapeutics in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.30.

Akari Therapeutics Stock Performance

Akari Therapeutics stock opened at $0.26 on Friday. Akari Therapeutics has a 1 year low of $0.22 and a 1 year high of $1.73. The firm’s 50-day moving average is $0.51 and its 200-day moving average is $0.83.

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.