Akari Therapeutics (NASDAQ:AKTX) Stock Price Down 3.1%

Akari Therapeutics PLC (NASDAQ:AKTX)’s share price traded down 3.1% during mid-day trading on Wednesday . The company traded as low as $1.86 and last traded at $1.90, 183,442 shares changed hands during mid-day trading. An increase of 71% from the average session volume of 107,011 shares. The stock had previously closed at $1.96.

Separately, Zacks Investment Research upgraded shares of Akari Therapeutics from a “sell” rating to a “hold” rating and set a $2.00 price target for the company in a research report on Thursday, November 7th.

The firm has a fifty day moving average of $1.84 and a 200-day moving average of $1.96. The stock has a market capitalization of $32.67 million, a price-to-earnings ratio of -11.18 and a beta of -2.81.

Akari Therapeutics (NASDAQ:AKTX) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). On average, equities research analysts forecast that Akari Therapeutics PLC will post -1 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Akari Therapeutics stock. Virtu Financial LLC boosted its holdings in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 185.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,124 shares of the biopharmaceutical company’s stock after acquiring an additional 20,232 shares during the period. Virtu Financial LLC owned about 0.20% of Akari Therapeutics worth $53,000 at the end of the most recent reporting period. 13.54% of the stock is owned by institutional investors.

About Akari Therapeutics (NASDAQ:AKTX)

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of treatments for a range of rare and orphan autoimmune and inflammatory diseases. Its lead drug candidate is Coversin, a second-generation complement inhibitor that is in Phase II clinical trial for the treatment of autoimmune and inflammatory diseases, including paroxysmal nocturnal hemoglobinuria, guillain barré syndrome, and atypical hemolytic uremic syndrome.

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