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

StockNews.com initiated coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a research report sent to investors on Wednesday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Akari Therapeutics Stock Performance

Shares of NASDAQ:AKTX opened at $1.18 on Wednesday. The firm has a 50 day moving average of $1.77 and a 200-day moving average of $2.60. Akari Therapeutics has a 12 month low of $1.08 and a 12 month high of $5.50.

Hedge Funds Weigh In On Akari Therapeutics

An institutional investor recently raised its position in Akari Therapeutics stock. Omnia Family Wealth LLC increased its stake in shares of Akari Therapeutics, Plc (NASDAQ:AKTX) by 48.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,628 shares of the biopharmaceutical company’s stock after purchasing an additional 28,511 shares during the quarter. Omnia Family Wealth LLC owned approximately 1.55% of Akari Therapeutics worth $273,000 at the end of the most recent reporting 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.