Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Down 60.1% in June

Akari Therapeutics PLC (NASDAQ:AKTX) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 17,997 shares, a drop of 60.1% from the June 15th total of 45,077 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 121,877 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new position in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on AKTX shares. Maxim Group cut shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Akari Therapeutics to a “sell” rating in a research note on Saturday, June 27th. HC Wainwright boosted their price objective on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings raised shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $89.00.

Akari Therapeutics Price Performance

NASDAQ AKTX opened at $13.88 on Monday. The stock’s 50-day moving average price is $11.04 and its 200-day moving average price is $9.38. Akari Therapeutics has a 52 week low of $3.02 and a 52 week high of $49.60.

Akari Therapeutics (NASDAQ:AKTX) last posted its quarterly earnings data on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.33) by ($686.67).

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.