StockNews.com Begins Coverage on Akari Therapeutics (NASDAQ:AKTX)

StockNews.com began coverage on shares of Akari Therapeutics (NASDAQ:AKTX – Get Rating) in a report published on Tuesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Separately, Alliance Global Partners assumed coverage on Akari Therapeutics in a research report on Tuesday, November 1st. They set a buy rating and a $4.00 price target for the company.

Akari Therapeutics Price Performance

AKTX stock opened at $0.53 on Tuesday. The firm has a market capitalization of $39.46 million, a PE ratio of -1.51 and a beta of 1.28. Akari Therapeutics has a 1 year low of $0.38 and a 1 year high of $1.67. The business has a 50 day simple moving average of $0.54 and a 200-day simple moving average of $0.89.

Akari Therapeutics (NASDAQ:AKTX – Get Rating) last issued its quarterly earnings data on Tuesday, September 27th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter.

Institutional Trading of Akari Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Armistice Capital LLC purchased a new position in shares of Akari Therapeutics during the third quarter worth about $2,703,000. Omnia Family Wealth LLC lifted its position in shares of Akari Therapeutics by 13.7% during the 1st quarter. Omnia Family Wealth LLC now owns 758,144 shares of the biopharmaceutical company’s stock valued at $910,000 after acquiring an additional 91,059 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Akari Therapeutics during the 2nd quarter worth approximately $83,000. Institutional investors and hedge funds own 2.83% of the company’s stock.

About Akari Therapeutics

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Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on developing advanced therapies for autoimmune and inflammatory diseases. Its lead product candidate is nomacopan, a second-generation complement inhibitor that prevents inflammatory and prothrombotic activities, including paroxysmal nocturnal hemoglobinuria, Guillain-Barré syndrome, hematopoietic stem cell transplant-associated thrombotic microangiopathy, and bullous pemphigoid.