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

Akari Therapeutics PLC (NASDAQ:AKTX) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 168,708 shares, a decline 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 presently 0.5 days. Approximately 0.5% of the shares of the stock are short sold.

Akari Therapeutics Price Performance

AKTX stock opened at $0.13 on Monday. Akari Therapeutics has a one year low of $0.13 and a one year high of $1.58. The company’s 50 day moving average price is $0.23 and its two-hundred day moving average price is $0.46.

Akari Therapeutics’s stock is scheduled to reverse split on 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.

Analysts Set New Price Targets

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

Institutional Trading of Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to its most recent 13F filing with the Securities & 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 5.95% of Akari Therapeutics as of its most recent SEC filing. 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.