Akari Therapeutics PLC (NASDAQ:AKTX) Sees Large Increase in Short Interest

Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 64,685 shares, a growth of 300.9% from the April 30th total of 16,135 shares. Based on an average daily volume of 35,844 shares, the days-to-cover ratio is presently 1.8 days. Approximately 8.2% of the company’s stock are sold short.

Akari Therapeutics Price Performance

Shares of NASDAQ AKTX traded down $0.02 during midday trading on Friday, reaching $22.03. The company’s stock had a trading volume of 181,245 shares, compared to its average volume of 465,717. The stock has a 50 day simple moving average of $6.28 and a 200-day simple moving average of $10.20. Akari Therapeutics has a fifty-two week low of $3.02 and a fifty-two week high of $56.80.

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

Hedge Funds Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC bought a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 5.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AKTX shares. HC Wainwright lifted their price target on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Maxim Group cut shares of Akari Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Akari Therapeutics presently has an average rating of “Hold” and an average target price of $89.00.

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.