Akari Therapeutics PLC (NASDAQ:AKTX) Short Interest Down 62.9% in June

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 45,077 shares, a decrease of 62.9% from the May 31st total of 121,540 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average daily volume of 88,099 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Akari Therapeutics

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. 5.06% of the stock is owned by institutional investors.

Akari Therapeutics Price Performance

NASDAQ:AKTX traded up $0.52 during mid-day trading on Tuesday, hitting $10.21. 34,885 shares of the stock traded hands, compared to its average volume of 405,911. The business’s 50-day moving average price is $9.89 and its 200 day moving average price is $9.42. Akari Therapeutics has a 12-month low of $3.02 and a 12-month high of $49.60.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AKTX shares. HC Wainwright boosted their price target on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Wall Street Zen raised shares of Akari Therapeutics to a “sell” rating in a report on Saturday. Maxim Group lowered shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Akari Therapeutics in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Akari Therapeutics presently has an average rating of “Hold” and an average price target of $89.00.

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.