Akari Therapeutics (NASDAQ:AKTX) Downgraded by Wall Street Zen to Strong Sell

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

AKTX has been the subject of several other reports. 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. Maxim Group raised Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Monday, July 20th. Finally, Weiss Ratings raised shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Akari Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $32.33.

Akari Therapeutics Stock Performance

NASDAQ:AKTX opened at $8.70 on Friday. Akari Therapeutics has a fifty-two week low of $3.02 and a fifty-two week high of $49.60. The stock’s fifty day moving average is $12.26 and its 200 day moving average is $9.39.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC bought a new stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. 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.