Akari Therapeutics (NASDAQ:AKTX) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of Akari Therapeutics PLC (NASDAQ:AKTX) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.39 and traded as high as $16.10. Akari Therapeutics shares last traded at $15.07, with a volume of 60,086 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on AKTX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a report on Monday, April 20th. HC Wainwright increased their price target on shares of Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, Maxim Group downgraded shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.00.

Akari Therapeutics Trading Down 4.9%

The company’s fifty day simple moving average is $7.39 and its 200-day simple moving average is $9.97.

Akari Therapeutics (NASDAQ:AKTX) last posted its quarterly earnings data on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($686.67).

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC raised its stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 2.52% of Akari Therapeutics worth $831,000 at the end of the most recent quarter. Institutional investors and hedge funds own 5.06% of the company’s stock.

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.