Short Interest in Akari Therapeutics PLC (NASDAQ:AKTX) Drops By 96.6%

Akari Therapeutics PLC (NASDAQ:AKTX) saw a large drop in short interest in March. As of March 31st, there was short interest totaling 5,810 shares, a drop of 96.6% from the March 15th total of 168,708 shares. Based on an average daily trading volume, of 14,688 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

AKTX has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Wednesday, January 21st. Maxim Group downgraded Akari Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday. HC Wainwright increased their target price on shares of Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, LADENBURG THALM/SH SH began coverage on shares of Akari Therapeutics in a report on Monday, January 5th. They issued a “buy” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Akari Therapeutics currently has a consensus rating of “Hold” and an average target price of $89.00.

Institutional Investors Weigh In On Akari Therapeutics

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

Akari Therapeutics Stock Performance

Shares of NASDAQ AKTX traded down $0.09 during mid-day trading on Friday, reaching $3.83. The company’s stock had a trading volume of 6,929 shares, compared to its average volume of 14,848. Akari Therapeutics has a 52 week low of $3.25 and a 52 week high of $63.20. The stock has a fifty day moving average of $8.02 and a two-hundred day moving average of $16.79.

Akari Therapeutics (NASDAQ:AKTX) last announced its quarterly earnings results on Monday, March 30th. The biopharmaceutical company reported ($2.68) EPS for the quarter, missing the consensus estimate of ($0.03) by ($2.65).

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.