Akari Therapeutics (NASDAQ:AKTX) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Akari Therapeutics PLC (NASDAQ:AKTX) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.39 and traded as high as $16.10. Akari Therapeutics shares last traded at $15.07, with a volume of 60,086 shares changing hands.

Analysts Set New Price Targets

AKTX has been the topic of several recent analyst reports. Maxim Group downgraded shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, April 8th. HC Wainwright increased their target price on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.00.

Akari Therapeutics Price Performance

The stock’s 50-day moving average price is $7.39 and its 200 day moving average price is $9.97.

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

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 position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 5.06% of the company’s stock.

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.