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

Akari Therapeutics PLC (NASDAQ:AKTX) shares are set to reverse split before the market opens 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 0.1%

AKTX opened at $0.14 on Friday. Akari Therapeutics has a 52 week low of $0.13 and a 52 week high of $1.58. The business’s 50 day moving average is $0.23 and its two-hundred day moving average is $0.47.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, January 21st. LADENBURG THALM/SH SH began coverage on shares of Akari Therapeutics in a research report on Monday, January 5th. They set a “buy” rating and a $1.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Akari Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC bought a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned 5.95% of Akari Therapeutics at the end of the most recent quarter. Institutional investors own 5.06% of the company’s stock.

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.