Akari Therapeutics (NASDAQ:AKTX) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Akari Therapeutics PLC (NASDAQ:AKTX)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.59 and traded as low as $0.24. Akari Therapeutics shares last traded at $0.24, with a volume of 83,508 shares.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AKTX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a research note on Wednesday, January 21st. LADENBURG THALM/SH SH initiated coverage on Akari Therapeutics in a research report on Monday, January 5th. They issued a “buy” rating and a $1.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Akari Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $2.53.

Akari Therapeutics Trading Down 1.6%

The business has a 50-day simple moving average of $0.27 and a 200-day simple moving average of $0.59.

Institutional Investors Weigh In On Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC boosted its stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 822,468 shares of the biopharmaceutical company’s stock after acquiring 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 owned by institutional investors.

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.