Akari Therapeutics PLC (NASDAQ:AKTX) was the target of a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 224,405 shares, a decrease of 82.7% from the March 15th total of 1,298,522 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 780,733 shares, the days-to-cover ratio is currently 0.3 days.
An institutional investor recently bought a new position in Akari Therapeutics stock. Virtu Financial LLC acquired a new position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 39,864 shares of the biopharmaceutical company’s stock, valued at approximately $143,000. Virtu Financial LLC owned approximately 0.26% of Akari Therapeutics as of its most recent SEC filing. 13.88% of the stock is currently owned by hedge funds and other institutional investors.
AKTX stock traded up $0.08 on Friday, reaching $3.78. The company’s stock had a trading volume of 81,088 shares, compared to its average volume of 1,546,859. The firm has a market capitalization of $59.94 million, a price-to-earnings ratio of -22.24 and a beta of -3.75. Akari Therapeutics has a 52 week low of $1.56 and a 52 week high of $9.20.
A number of analysts have recently weighed in on AKTX shares. ValuEngine upgraded Akari Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. B. Riley set a $7.00 price target on Akari Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Zacks Investment Research raised Akari Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Friday, April 26th.
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About Akari Therapeutics
Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of treatments for a range of rare and orphan autoimmune and inflammatory diseases. Its lead drug candidate is Coversin, a second-generation complement inhibitor that is in Phase II clinical trial for the treatment of autoimmune and inflammatory diseases, including paroxysmal nocturnal hemoglobinuria, guillain barré syndrome, and atypical hemolytic uremic syndrome.
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