Akari Therapeutics Stock Scheduled to Reverse Split on Tuesday, March 31st (NASDAQ:AKTX)

Akari Therapeutics PLC (NASDAQ:AKTX)’s stock is going to reverse split before the market opens on Tuesday, March 31st. The 1-40 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 30th.

Akari Therapeutics Stock Performance

Shares of NASDAQ AKTX traded down $0.02 during mid-day trading on Thursday, hitting $0.15. 1,179,190 shares of the stock were exchanged, compared to its average volume of 362,628. The stock’s fifty day simple moving average is $0.25 and its two-hundred day simple moving average is $0.49. Akari Therapeutics has a twelve month low of $0.13 and a twelve month high of $1.73.

Analyst Ratings Changes

A number of research firms recently commented on AKTX. LADENBURG THALM/SH SH started coverage on Akari Therapeutics in a report on Monday, January 5th. They set a “buy” rating and a $1.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Akari Therapeutics in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Akari Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $2.53.

Hedge Funds Weigh In On Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC increased its stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 822,468 shares of the biopharmaceutical company’s stock after purchasing an additional 804,060 shares during the quarter. 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 currently owned by hedge funds and other institutional investors.

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.