Akari Therapeutics (NASDAQ:AKTX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Akari Therapeutics (NASDAQ:AKTX) from a sell rating to a strong sell rating in a research note published on Saturday morning.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings raised Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Maxim Group upgraded shares of Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, July 20th. Finally, HC Wainwright increased their price objective on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Akari Therapeutics Trading Down 2.8%

Shares of NASDAQ AKTX opened at $8.46 on Friday. Akari Therapeutics has a 12 month low of $3.02 and a 12 month high of $49.60. The stock has a 50 day moving average of $12.36 and a 200-day moving average of $9.36.

Institutional Trading of Akari Therapeutics

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC acquired a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

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.