Akari Therapeutics (NASDAQ:AKTX) Rating Increased to Sell at Wall Street Zen

Akari Therapeutics (NASDAQ:AKTX) was upgraded by research analysts at Wall Street Zen to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on AKTX. Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Monday, April 20th. HC Wainwright raised their price target on Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Finally, Maxim Group cut Akari Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.00.

Akari Therapeutics Price Performance

Shares of Akari Therapeutics stock opened at $10.62 on Friday. Akari Therapeutics has a one year low of $3.02 and a one year high of $49.60. The business has a 50-day simple moving average of $9.80 and a 200-day simple moving average of $9.48.

Akari Therapeutics (NASDAQ:AKTX) last issued its earnings results on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) earnings per share for the quarter, missing the consensus estimate of ($1.33) by ($686.67).

Hedge Funds Weigh In On Akari Therapeutics

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned about 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 and hedge funds.

Akari Therapeutics Company Profile

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.