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

StockNews.com initiated coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a research note released on Tuesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Akari Therapeutics Price Performance

Akari Therapeutics stock opened at $1.21 on Tuesday. The firm has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $2.71. Akari Therapeutics has a 1-year low of $1.08 and a 1-year high of $5.50.

Institutional Trading of Akari Therapeutics

Several hedge funds have recently made changes to their positions in AKTX. Renaissance Technologies LLC grew 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 buying an additional 228,100 shares during the period. Cerity Partners LLC purchased a new position in shares of Akari Therapeutics during the 2nd quarter worth approximately $55,000. LPL Financial LLC purchased a new position in shares of Akari Therapeutics during the 2nd quarter worth approximately $83,000. Omnia Family Wealth LLC boosted its position in shares of 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 during the period. Finally, Sabby Management LLC boosted its position 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 worth $1,443,000 after purchasing an additional 4,273,528 shares during the period. Hedge funds and other institutional investors 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.