Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Increases By 66.2%

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 27,299 shares, a growth of 66.2% from the July 15th total of 16,430 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily volume of 37,573 shares, the short-interest ratio is presently 0.7 days.

Akari Therapeutics Stock Performance

Shares of NASDAQ AKTX opened at $7.90 on Wednesday. The stock’s 50-day moving average is $10.32 and its two-hundred day moving average is $8.99. Akari Therapeutics has a 1-year low of $3.02 and a 1-year high of $49.60.

Hedge Funds Weigh In On Akari Therapeutics

An institutional investor recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned 5.95% of Akari Therapeutics as of its most recent SEC filing. 5.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AKTX. Weiss Ratings upgraded Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Maxim Group raised Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, July 20th. Finally, Wall Street Zen lowered shares of Akari Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.33.

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.