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

Investment analysts at StockNews.com began coverage on shares of Akari Therapeutics (NASDAQ:AKTX – Get Rating) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Akari Therapeutics Stock Down 7.5 %

Shares of AKTX stock opened at $0.19 on Wednesday. The stock has a 50-day simple moving average of $0.20 and a 200 day simple moving average of $0.38. Akari Therapeutics has a fifty-two week low of $0.14 and a fifty-two week high of $1.61. The stock has a market capitalization of $13.97 million, a P/E ratio of -0.54 and a beta of 1.31.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sabby Management LLC boosted its position in shares of Akari Therapeutics by 116.5% in the 1st quarter. Sabby Management LLC now owns 7,941,867 shares of the biopharmaceutical company’s stock valued at $1,443,000 after purchasing an additional 4,273,528 shares during the period. LPL Financial LLC acquired a new position in shares of Akari Therapeutics in the 2nd quarter valued at $83,000. Renaissance Technologies LLC boosted its position 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 period. Finally, Armistice Capital LLC acquired a new position in shares of Akari Therapeutics in the 3rd quarter valued at $2,703,000. Institutional investors own 13.59% of the company’s stock.

Akari Therapeutics Company Profile

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Akari Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of therapeutics to treat orphan autoimmune and inflammatory diseases. Its lead product candidate, Nomacopan, is a second-generation complement inhibitor. The company was founded on October 7, 2004 and is headquartered in London, the United Kingdom.