What Do Hedge Funds Think of Akari Therapeutics PLC (ADR) (AKTX)?

Now, specific money managers have jumped into Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) headfirst. Deerfield Management, managed by James E. Flynn, assembled the most valuable position in Akari Therapeutics PLC (ADR) (NASDAQ:AKTX). Deerfield Management had $27.6 million invested in the company at the end of the quarter. Anders Hove and Bong Koh’s VHCP Management also initiated an $12.7 million position during the quarter. The following funds were also among the new AKTX investors: Julian Baker and Felix Baker’s Baker Bros. Advisors, Peter Kolchinsky’s RA Capital Management, and Oleg Nodelman’s EcoR1 Capital.

Let’s now review hedge fund activity in other stocks similar to Akari Therapeutics PLC (ADR) (NASDAQ:AKTX). These stocks are Trinity Biotech plc (ADR) (NASDAQ:TRIB), American Software, Inc. (NASDAQ:AMSWA), Blount International, Inc. (NYSE:BLT), and Navios Maritime Holdings Inc. (NYSE:NM). This group of stocks’ market caps are similar to AKTX’s market cap.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $51 million. That figure was $62 million in AKTX’s case. Trinity Biotech plc (ADR) (NASDAQ:TRIB) is the most popular stock in this table. On the other hand American Software, Inc. (NASDAQ:AMSWA) is the least popular one with only 7 bullish hedge fund positions. Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TRIB might be a better candidate to consider a long position.