Akari Therapeutics PLC (NASDAQ:AKTX) Sees Large Increase in Short Interest

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 64,685 shares, a growth of 300.9% from the April 30th total of 16,135 shares. Based on an average trading volume of 35,844 shares, the days-to-cover ratio is presently 1.8 days. Currently, 8.2% of the company’s shares are sold short.

Analyst Ratings Changes

A number of analysts recently commented on AKTX shares. HC Wainwright lifted their price objective on Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Maxim Group lowered shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Akari Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $89.00.

Akari Therapeutics Price Performance

AKTX traded down $0.02 during midday trading on Friday, reaching $22.03. 181,245 shares of the company were exchanged, compared to its average volume of 465,717. Akari Therapeutics has a one year low of $3.02 and a one year high of $56.80. The stock’s 50-day simple moving average is $6.28 and its 200 day simple moving average is $10.20.

Akari Therapeutics (NASDAQ:AKTX) last announced its quarterly earnings results 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).

Hedge Funds Weigh In On Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC lifted its position in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 822,468 shares of the biopharmaceutical company’s stock after buying an additional 804,060 shares during the period. Cresset Asset Management LLC owned about 2.52% of Akari Therapeutics worth $831,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.06% of the company’s stock.

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.