Akari Therapeutics (NASDAQ:AKTX) Shares Cross Below 200-Day Moving Average – What’s Next?

Akari Therapeutics PLC (NASDAQ:AKTX)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.93 and traded as low as $0.3269. Akari Therapeutics shares last traded at $0.3390, with a volume of 134,980 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AKTX. HC Wainwright reaffirmed a “buy” rating and set a $1.60 target price on shares of Akari Therapeutics in a research report on Tuesday, September 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.30.

Akari Therapeutics Trading Down 0.3%

The business has a 50-day moving average price of $0.69 and a 200-day moving average price of $0.93.

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC increased its holdings in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 822,468 shares of the biopharmaceutical company’s stock after acquiring an additional 804,060 shares during the period. Cresset Asset Management LLC owned about 2.52% of Akari Therapeutics worth $831,000 at the end of the most recent reporting period. 5.06% of the stock is currently owned by institutional investors and hedge funds.

About Akari Therapeutics

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on developing advanced therapies for autoimmune and inflammatory diseases. Its lead product candidate is nomacopan, a second-generation complement inhibitor that prevents inflammatory and prothrombotic activities, including paroxysmal nocturnal hemoglobinuria, Guillain-Barré syndrome, hematopoietic stem cell transplant-associated thrombotic microangiopathy, and bullous pemphigoid, as well as pre-clinical program developing long-acting PASylated-nomacopan for treatment of geographic atrophy secondary to dry age-related macular degeneration.