Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 3,814,741 shares changed hands during trading, an increase of 23% from the previous session's volume of 3,113,107 shares.The stock last traded at $3.83 and had previously closed at $3.83.
Wall Street Analyst Weigh In
AKBA has been the topic of a number of analyst reports. 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 on the stock. Leerink Partnrs upgraded Akebia Therapeutics to a "strong-buy" rating in a research report on Monday, April 28th. Piper Sandler raised their target price on 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 shares of Akebia Therapeutics in a research note on Tuesday, April 1st. They set a "buy" rating and a $6.00 price target on the stock. Finally, Leerink Partners started coverage on shares of Akebia Therapeutics in a report on Monday, April 28th. They issued an "outperform" rating and a $7.00 price target for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $6.75.
Check Out Our Latest Stock Analysis on Akebia Therapeutics
Akebia Therapeutics Stock Down 1.8%
The firm has a fifty day moving average of $2.55 and a 200-day moving average of $2.19. The stock has a market capitalization of $941.55 million, a price-to-earnings ratio of -15.59 and a beta of 0.85.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.06. The firm had revenue of $57.34 million during the quarter, compared to analysts' expectations of $44.88 million. As a group, research analysts forecast that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.
Insider Activity at Akebia Therapeutics
In other Akebia Therapeutics news, CAO Richard C. Malabre sold 13,334 shares of Akebia Therapeutics stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $3.53, for a total transaction of $47,069.02. Following the completion of the transaction, the chief accounting officer now owns 266,914 shares in the company, valued at approximately $942,206.42. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of AKBA. Vanguard Group Inc. grew its holdings in Akebia Therapeutics by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company's stock valued at $24,357,000 after buying an additional 1,801,603 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Akebia Therapeutics by 0.9% in 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 in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Akebia Therapeutics by 2.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,823,527 shares of the biopharmaceutical company's stock valued at $7,265,000 after acquiring an additional 105,727 shares during the last quarter. AIGH Capital Management LLC purchased a new stake in Akebia Therapeutics during the 1st quarter worth about $5,616,000. Finally, Goldman Sachs Group Inc. increased its position in Akebia Therapeutics by 171.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company's stock worth $5,231,000 after purchasing an additional 1,722,245 shares in the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.
About Akebia Therapeutics
(
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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