Akari Therapeutics PLC (AKTX) Rating Lowered to Sell at Zacks Investment Research

Akari Therapeutics PLC (NASDAQ:AKTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, October 17th.

According to Zacks, “Akari Therapeutics PLC is a biopharmaceutical company. It focused on the development and commercialization of innovative therapeutics to treat orphan autoimmune and inflammatory diseases. The Company’s lead drug consist of Coversin is a recombinant small protein, which acts on complement component-C5, preventing release of C5a and formation of C5b-9. Akari Therapeutics PLC, formerly known as Celsus Therapeutics Plc, is based in London, United Kingdom. “

AKTX has been the topic of several other reports. Canaccord Genuity reaffirmed a “buy” rating and set a $15.00 target price (down from $33.00) on shares of Akari Therapeutics PLC in a research report on Monday, June 26th. ValuEngine upgraded Akari Therapeutics PLC from a “strong sell” rating to a “sell” rating in a research note on Monday, September 11th. William Blair upgraded Akari Therapeutics PLC from a “market perform” rating to an “outperform” rating in a research note on Friday, September 22nd. Finally, Chardan Capital reiterated a “neutral” rating and set a $2.50 price target (down previously from $6.00) on shares of Akari Therapeutics PLC in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $8.00.

Akari Therapeutics PLC (AKTX) traded down 3.53% during mid-day trading on Tuesday, hitting $4.10. The stock had a trading volume of 196,017 shares. Akari Therapeutics PLC has a 52 week low of $3.18 and a 52 week high of $22.20. The company’s 50 day moving average price is $5.80 and its 200 day moving average price is $6.85. The firm’s market cap is $48.28 million.

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An institutional investor recently raised its position in Akari Therapeutics PLC stock. VHCP Management II LLC raised its position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 15.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 426,297 shares of the biopharmaceutical company’s stock after acquiring an additional 56,807 shares during the quarter. Akari Therapeutics PLC makes up about 0.8% of VHCP Management II LLC’s holdings, making the stock its 13th largest holding. VHCP Management II LLC owned 3.62% of Akari Therapeutics PLC worth $1,965,000 at the end of the most recent reporting period. Institutional investors own 26.96% of the company’s stock.

About Akari Therapeutics PLC

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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