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

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 10,763 shares, a decline of 64.3% from the August 31st total of 30,117 shares. Based on an average trading volume of 101,607 shares, the short-interest ratio is currently 0.1 days. Approximately 0.8% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Maxim Group upgraded 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. Alliance Global Partners upgraded Akari Therapeutics to a “strong-buy” rating in a research note on Friday, September 18th. Weiss Ratings upgraded shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Akari Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. 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 MarketBeat.com, Akari Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Akari Therapeutics Trading Down 3.0%

Shares of AKTX stock traded down $0.30 during trading hours on Friday, hitting $9.76. The company 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 firm’s fifty day moving average is $9.09 and its 200 day moving average is $9.04.

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.