Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Acquired by Barclays PLC

Barclays PLC raised its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 37.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 375,495 shares of the biopharmaceutical company's stock after purchasing an additional 102,410 shares during the quarter. Barclays PLC owned 0.17% of Akebia Therapeutics worth $713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AKBA. Wellington Management Group LLP grew its position in shares of Akebia Therapeutics by 24.1% in the fourth quarter. Wellington Management Group LLP now owns 502,127 shares of the biopharmaceutical company's stock valued at $954,000 after purchasing an additional 97,409 shares during the period. Geode Capital Management LLC grew its position 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 valued at $9,112,000 after acquiring an additional 40,631 shares during the period. Vanguard Group Inc. grew its position in Akebia Therapeutics by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 10,884,200 shares of the biopharmaceutical company's stock valued at $20,680,000 after acquiring an additional 813,902 shares during the period. Rhumbline Advisers grew its position in Akebia Therapeutics by 9.3% during the fourth quarter. Rhumbline Advisers now owns 265,389 shares of the biopharmaceutical company's stock valued at $504,000 after acquiring an additional 22,513 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Akebia Therapeutics by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company's stock valued at $130,000 after acquiring an additional 9,662 shares during the period. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Akebia Therapeutics Stock Performance

Shares of NASDAQ:AKBA traded down $0.02 during trading on Tuesday, hitting $2.41. The company's stock had a trading volume of 837,633 shares, compared to its average volume of 2,829,447. Akebia Therapeutics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $2.90. The stock's 50-day moving average price is $2.08 and its two-hundred day moving average price is $2.00. The company has a market capitalization of $630.90 million, a PE ratio of -10.48 and a beta of 0.88.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AKBA shares. Leerink Partners initiated coverage on Akebia Therapeutics in a research report on Monday, April 28th. They set an "outperform" rating and a $7.00 price target for the company. Leerink Partnrs raised Akebia Therapeutics to a "strong-buy" rating in a research report on Monday, April 28th. Piper Sandler upped their target price on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Jefferies Financial Group initiated coverage on Akebia Therapeutics in a research report on Tuesday, April 1st. They issued a "buy" rating and a $6.00 target price for the company. Finally, StockNews.com raised Akebia Therapeutics from a "sell" rating to a "hold" rating in a research report 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's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $6.63.

Akebia Therapeutics 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.