Akari Therapeutics (NASDAQ:AKTX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a note issued to investors on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Akari Therapeutics Price Performance

Shares of NASDAQ:AKTX opened at $1.19 on Tuesday. Akari Therapeutics has a 12 month low of $1.08 and a 12 month high of $5.50. The stock’s 50 day moving average price is $1.94 and its 200 day moving average price is $2.72.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Omnia Family Wealth LLC grew its position in Akari Therapeutics by 48.2% during the 4th quarter. Omnia Family Wealth LLC now owns 87,628 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 28,511 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Akari Therapeutics during the 2nd quarter valued at $55,000. Sabby Management LLC boosted its stake in shares of Akari Therapeutics by 116.5% during the 1st quarter. Sabby Management LLC now owns 7,941,867 shares of the biopharmaceutical company’s stock valued at $1,443,000 after buying an additional 4,273,528 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Akari Therapeutics by 411.4% in the 1st quarter. Renaissance Technologies LLC now owns 283,550 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 228,100 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Akari Therapeutics in the 2nd quarter valued at $83,000. Institutional investors and hedge funds own 5.06% of the company’s stock.

Akari Therapeutics Company Profile

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, as well as pre-clinical program developing long-acting PASylated-nomacopan for treatment of geographic atrophy secondary to dry age-related macular degeneration.