Akari Therapeutics PLC (NASDAQ:AKTX) Stock Short Interest Drops 64.3%

Akari Therapeutics PLC (NASDAQ:AKTX) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 10,763 shares, a drop of 64.3% from the August 31st total of 30,117 shares. Based on an average daily volume of 101,607 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.8% of the shares of the company are short sold.

Akari Therapeutics Price Performance

Akari Therapeutics stock traded down $0.30 during midday trading on Friday, hitting $9.76. The company’s stock had a trading volume of 71,534 shares, compared to its average volume of 85,418. Akari Therapeutics has a 12 month low of $3.02 and a 12 month high of $46.00. The stock’s 50-day moving average price is $9.09 and its 200-day moving average price is $9.04.

Analyst Upgrades and Downgrades

AKTX has been the subject of several recent research reports. Wall Street Zen upgraded shares of Akari Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings raised shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Maxim Group raised shares of Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, July 20th. Finally, Alliance Global Partners raised shares of Akari Therapeutics to a “strong-buy” rating in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Akari Therapeutics Company Profile

Akari Therapeutics plc is a clinical-stage biotechnology company developing therapies for autoimmune and inflammatory diseases. The company’s research is focused on modulating the complement system and inflammatory pathways that contribute to tissue damage and disease progression.

Akari’s lead investigational product is nomacopan, a recombinant small protein originally derived from tick saliva. Nomacopan is designed to inhibit complement component C5 and leukotriene B4, two pathways involved in inflammation.