Akari Therapeutics (NASDAQ:AKTX) Issues Quarterly Earnings Results

Akari Therapeutics (NASDAQ:AKTX) posted its quarterly earnings results on Monday. The biopharmaceutical company reported ($2.68) earnings per share (EPS) for the quarter, reports.

Akari Therapeutics Stock Performance

Shares of NASDAQ:AKTX opened at $0.12 on Tuesday. The firm has a 50 day simple moving average of $0.23 and a 200 day simple moving average of $0.45. Akari Therapeutics has a 52 week low of $0.12 and a 52 week high of $1.58.

Institutional Trading of Akari Therapeutics

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC purchased a new position in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 at the end of the most recent reporting period. Institutional investors own 5.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. LADENBURG THALM/SH SH assumed coverage on Akari Therapeutics in a report on Monday, January 5th. They issued a “buy” rating and a $40.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.33.

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.