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

Akari Therapeutics PLC (NASDAQ:AKTXGet Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.24 and traded as low as $7.19. Akari Therapeutics shares last traded at $7.36, with a volume of 24,072 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Akari Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Weiss Ratings raised shares of Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Finally, Maxim Group upgraded shares of Akari Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Read Our Latest Analysis on Akari Therapeutics

Akari Therapeutics Stock Down 3.7%

The stock has a 50 day simple moving average of $11.81 and a 200-day simple moving average of $9.20.

Institutional Investors Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Akari Therapeutics PLC (NASDAQ:AKTXFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned approximately 5.95% of Akari Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 5.06% of the company’s stock.

About Akari Therapeutics

(Get Free Report)

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.

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