Akebia Therapeutics, Inc. (NASDAQ:AKBA) CFO Sells $151,622.38 in Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) CFO Erik Ostrowski sold 41,314 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $3.67, for a total transaction of $151,622.38. Following the completion of the transaction, the chief financial officer owned 503,586 shares in the company, valued at approximately $1,848,160.62. This trade represents a 7.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Akebia Therapeutics Stock Performance

NASDAQ AKBA traded down $0.07 during mid-day trading on Tuesday, reaching $3.57. 5,023,335 shares of the stock were exchanged, compared to its average volume of 3,149,928. The business's 50 day moving average is $3.02 and its 200-day moving average is $2.34. Akebia Therapeutics, Inc. has a 1 year low of $0.91 and a 1 year high of $4.08. The company has a market capitalization of $937.62 million, a P/E ratio of -17.00 and a beta of 0.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 2.02 and a current ratio of 2.23.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.06. The firm had revenue of $57.34 million during the quarter, compared to analyst estimates of $44.88 million. On average, equities research analysts forecast that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Akebia Therapeutics

Hedge funds have recently bought and sold shares of the business. SRS Capital Advisors Inc. acquired a new position in shares of Akebia Therapeutics during the 4th quarter worth approximately $26,000. PDS Planning Inc acquired a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $28,000. Mariner LLC purchased a new stake in shares of Akebia Therapeutics during the fourth quarter worth about $28,000. Unified Investment Management raised its position in shares of Akebia Therapeutics by 47.8% during the 1st quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Akebia Therapeutics in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 33.92% of the company's stock.

Wall Street Analyst Weigh In

AKBA has been the topic of several recent research reports. Leerink Partners initiated coverage on shares of Akebia Therapeutics in a report on Monday, April 28th. They issued an "outperform" rating and a $7.00 price objective on the stock. Piper Sandler upped their price target 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. Jefferies Financial Group began coverage on Akebia Therapeutics in a research report on Tuesday, April 1st. They set a "buy" rating and a $6.00 price target on the stock. HC Wainwright assumed coverage on Akebia Therapeutics in a report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 price objective for the company. Finally, Wall Street Zen upgraded Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Akebia Therapeutics has a consensus rating of "Buy" and an average price target of $6.75.

Akebia Therapeutics Company Profile

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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