Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Declines By 51.1%

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 211,849 shares, a decrease of 51.1% from the December 31st total of 433,343 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 375,479 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 375,479 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

AKTX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. LADENBURG THALM/SH SH assumed coverage on Akari Therapeutics in a research report on Monday, January 5th. They set a “buy” rating and a $1.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2.53.

Institutional Trading of Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC lifted its stake in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 822,468 shares of the biopharmaceutical company’s stock after purchasing 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 quarter. 5.06% of the stock is currently owned by hedge funds and other institutional investors.

Akari Therapeutics Price Performance

Shares of NASDAQ AKTX opened at $0.23 on Friday. The business has a 50-day simple moving average of $0.31 and a two-hundred day simple moving average of $0.67. Akari Therapeutics has a fifty-two week low of $0.22 and a fifty-two week high of $1.73.

About Akari Therapeutics

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.