Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Update

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 64,685 shares, an increase of 300.9% from the April 30th total of 16,135 shares. Approximately 8.2% of the shares of the stock are sold short. Based on an average trading volume of 35,844 shares, the short-interest ratio is presently 1.8 days.

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC acquired a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AKTX shares. Maxim Group lowered shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. HC Wainwright raised their target price on shares of Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.00.

Akari Therapeutics Stock Performance

NASDAQ:AKTX traded down $5.62 during trading hours on Friday, reaching $16.43. 541,998 shares of the company were exchanged, compared to its average volume of 2,272,567. Akari Therapeutics has a 52-week low of $3.02 and a 52-week high of $56.80. The stock has a 50 day simple moving average of $6.47 and a 200 day simple moving average of $10.24.

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

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.