Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) CAO Richard C. Malabre sold 15,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $4.01, for a total value of $60,150.00. Following the completion of the transaction, the chief accounting officer now directly owns 266,914 shares in the company, valued at approximately $1,070,325.14. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Akebia Therapeutics Price Performance
Shares of AKBA stock traded down $0.03 during trading hours on Friday, reaching $3.63. 2,418,195 shares of the stock were exchanged, compared to its average volume of 3,174,499. The firm has a market capitalization of $952.06 million, a P/E ratio of -15.67 and a beta of 0.85. The business's fifty day moving average is $2.55 and its two-hundred day moving average is $2.19. Akebia Therapeutics, Inc. has a 12-month low of $0.80 and a 12-month high of $4.08.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.06. The business had revenue of $57.34 million during the quarter, compared to analyst estimates of $44.88 million. As a group, equities research analysts predict that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.
Institutional Trading of Akebia Therapeutics
A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of Akebia Therapeutics by 117.9% in the fourth quarter. Bank of America Corp DE now owns 543,916 shares of the biopharmaceutical company's stock valued at $1,033,000 after purchasing an additional 294,343 shares during the last quarter. Wellington Management Group LLP increased its stake in Akebia Therapeutics by 24.1% during the 4th quarter. Wellington Management Group LLP now owns 502,127 shares of the biopharmaceutical company's stock worth $954,000 after buying an additional 97,409 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Akebia Therapeutics by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company's stock worth $240,000 after acquiring an additional 12,232 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Akebia Therapeutics by 64.0% in the 4th quarter. Deutsche Bank AG now owns 181,048 shares of the biopharmaceutical company's stock valued at $344,000 after acquiring an additional 70,663 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Akebia Therapeutics by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,795,095 shares of the biopharmaceutical company's stock worth $9,112,000 after acquiring an additional 40,631 shares during the period. 33.92% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
AKBA has been the topic of a number of research reports. HC Wainwright initiated coverage on shares of Akebia Therapeutics in a report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 price target on the stock. Jefferies Financial Group started coverage on Akebia Therapeutics in a research note on Tuesday, April 1st. They set a "buy" rating and a $6.00 target price on the stock. Wall Street Zen raised Akebia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Piper Sandler increased their price objective on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Finally, Leerink Partnrs upgraded Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Akebia Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $6.75.
Read Our Latest Analysis on AKBA
Akebia Therapeutics Company Profile
(
Get Free Report)
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.
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