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

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

Akari Therapeutics Stock Performance

AKTX stock opened at $1.17 on Tuesday. Akari Therapeutics has a 1 year low of $1.08 and a 1 year high of $5.50. The stock’s fifty day moving average price is $1.89 and its 200-day moving average price is $2.69.

Hedge Funds Weigh In On Akari Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of AKTX. LPL Financial LLC bought a new position in Akari Therapeutics in the 2nd quarter worth $83,000. Renaissance Technologies LLC raised its holdings in Akari Therapeutics by 411.4% in the 1st quarter. Renaissance Technologies LLC now owns 283,550 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 228,100 shares during the period. Sabby Management LLC raised its holdings in Akari Therapeutics by 116.5% in the 1st quarter. Sabby Management LLC now owns 7,941,867 shares of the biopharmaceutical company’s stock worth $1,443,000 after purchasing an additional 4,273,528 shares during the period. Cerity Partners LLC bought a new position in Akari Therapeutics in the 2nd quarter worth $55,000. Finally, Omnia Family Wealth LLC raised its holdings in Akari Therapeutics by 48.2% in 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 during the period. 5.06% of the stock is currently owned by hedge funds and other institutional investors.

About Akari Therapeutics

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.