Akari Therapeutics (NASDAQ:AKTX) Stock Passes Below 200-Day Moving Average – What’s Next?

Akari Therapeutics PLC (NASDAQ:AKTX) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.65 and traded as low as $0.2220. Akari Therapeutics shares last traded at $0.2250, with a volume of 272,148 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AKTX. LADENBURG THALM/SH SH began coverage on shares of Akari Therapeutics in a report on Monday, January 5th. They set a “buy” rating and a $1.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2.53.

Akari Therapeutics Stock Up 4.4%

The business’s 50 day moving average is $0.29 and its 200-day moving average is $0.64.

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently raised its stake in Akari Therapeutics stock. Cresset Asset Management LLC raised its holdings in Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 822,468 shares of the biopharmaceutical company’s stock after buying an additional 804,060 shares during the period. Cresset Asset Management LLC owned about 2.52% of Akari Therapeutics worth $831,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.