Akari Therapeutics (NASDAQ:AKTX) posted its earnings results on Wednesday. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.59, Morningstar.com reports.
Akari Therapeutics stock traded up $0.01 during mid-day trading on Thursday, hitting $2.00. The company’s stock had a trading volume of 14,933 shares, compared to its average volume of 180,454. Akari Therapeutics has a 1 year low of $1.79 and a 1 year high of $22.20. The stock has a market cap of $24.97, a P/E ratio of -7.11 and a beta of -8.01.
Hedge funds have recently bought and sold shares of the business. Endurant Capital Management LP purchased a new position in shares of Akari Therapeutics during the 4th quarter worth approximately $871,000. Millennium Management LLC grew its stake in shares of Akari Therapeutics by 125.0% in the 4th quarter. Millennium Management LLC now owns 260,020 shares of the biopharmaceutical company’s stock worth $1,126,000 after buying an additional 144,477 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new stake in shares of Akari Therapeutics in the 4th quarter worth approximately $2,962,000. Hedge funds and other institutional investors own 32.94% of the company’s stock.
A number of research analysts have weighed in on the company. B. Riley assumed coverage on Akari Therapeutics in a report on Thursday, February 8th. They set a “neutral” rating and a $3.00 target price on the stock. Zacks Investment Research downgraded Akari Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, ValuEngine upgraded Akari Therapeutics from a “strong sell” rating to a “sell” rating in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Akari Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $6.38.
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About Akari Therapeutics
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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