Akari Therapeutics PLC (NASDAQ:AKTX) fell 9% on Tuesday . The company traded as low as $4.07 and last traded at $4.24. 669,525 shares traded hands during mid-day trading, an increase of 75% from the average session volume of 383,357 shares. The stock had previously closed at $4.66.
Several research firms have weighed in on AKTX. Chardan Capital reiterated a “neutral” rating on shares of Akari Therapeutics in a research report on Sunday, September 17th. Zacks Investment Research upgraded Akari Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. ValuEngine upgraded Akari Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 30th. William Blair upgraded Akari Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, September 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $15.00 price objective on shares of Akari Therapeutics in a research report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $7.50.
An institutional investor recently raised its position in Akari Therapeutics stock. VHCP Management II LLC boosted its holdings in Akari Therapeutics PLC (NASDAQ:AKTX) by 15.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 426,297 shares of the biopharmaceutical company’s stock after buying an additional 56,807 shares during the quarter. Akari Therapeutics makes up 0.8% of VHCP Management II LLC’s holdings, making the stock its 13th biggest holding. VHCP Management II LLC owned approximately 3.62% of Akari Therapeutics worth $1,965,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.06% of the company’s stock.
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Akari Therapeutics Company Profile
Akari Therapeutics, Plc, formerly Celsus Therapeutics Plc, is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of treatments for a range of rare and orphan autoimmune and inflammatory diseases caused by dysregulation of complement component 5 (C5), including paroxysmal nocturnal hemoglobinuria, Guillain Barre syndrome and atypical Hemolytic Uremic Syndrome.
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