Akari Therapeutics (NASDAQ:AKTX) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a research note published on Tuesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Akari Therapeutics Price Performance

NASDAQ:AKTX opened at $1.21 on Tuesday. The firm has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $2.71. Akari Therapeutics has a 1-year low of $1.08 and a 1-year high of $5.50.

Hedge Funds Weigh In On Akari Therapeutics

A number of institutional investors have recently modified their holdings of AKTX. Renaissance Technologies LLC raised its position in shares of Akari Therapeutics by 411.4% in the first quarter. Renaissance Technologies LLC now owns 283,550 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 228,100 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Akari Therapeutics in the second quarter valued at approximately $55,000. LPL Financial LLC acquired a new position in shares of Akari Therapeutics in the second quarter valued at approximately $83,000. Omnia Family Wealth LLC raised its position in shares of Akari Therapeutics by 48.2% in the fourth quarter. Omnia Family Wealth LLC now owns 87,628 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 28,511 shares during the last quarter. Finally, Sabby Management LLC raised its position in shares of Akari Therapeutics by 116.5% in the first quarter. Sabby Management LLC now owns 7,941,867 shares of the biopharmaceutical company’s stock valued at $1,443,000 after buying an additional 4,273,528 shares during the last quarter. Institutional investors and hedge funds own 5.06% of the company’s stock.

Akari Therapeutics Company Profile

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.