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

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

A number of other analysts have also issued reports on AKTX. Maxim Group raised Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, July 20th. Weiss Ratings upgraded Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Finally, HC Wainwright lifted their price objective on Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Akari Therapeutics Stock Performance

Shares of AKTX stock opened at $8.70 on Friday. The firm’s 50 day moving average price is $12.26 and its 200-day moving average price is $9.38. Akari Therapeutics has a one year low of $3.02 and a one year high of $49.60.

Institutional Investors Weigh In On Akari Therapeutics

An institutional investor recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC bought a new position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned approximately 5.95% of Akari Therapeutics as of its most recent SEC filing. Institutional investors 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.