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

Investment analysts at StockNews.com assumed coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a research note issued on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Akari Therapeutics Price Performance

AKTX stock opened at $1.19 on Tuesday. Akari Therapeutics has a 12 month low of $1.08 and a 12 month high of $5.50. The company’s 50-day moving average price is $1.94 and its two-hundred day moving average price is $2.72.

Hedge Funds Weigh In On Akari Therapeutics

Several hedge funds have recently bought and sold shares of the company. Omnia Family Wealth LLC increased 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 valued at $273,000 after buying an additional 28,511 shares during the period. LPL Financial LLC bought a new stake in shares of Akari Therapeutics during the 2nd quarter valued at approximately $83,000. Renaissance Technologies LLC grew its holdings in shares of Akari Therapeutics by 411.4% during 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 last quarter. Cerity Partners LLC bought a new stake in shares of Akari Therapeutics during the 2nd quarter valued at approximately $55,000. Finally, Sabby Management LLC grew its holdings 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 valued at $1,443,000 after purchasing an additional 4,273,528 shares during the last quarter. 5.06% of the stock is owned by 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.