125,680 Shares in Akebia Therapeutics, Inc. (NASDAQ:AKBA) Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP bought a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 125,680 shares of the biopharmaceutical company's stock, valued at approximately $239,000. Dimensional Fund Advisors LP owned 0.06% of Akebia Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AKBA. SRS Capital Advisors Inc. bought a new stake in Akebia Therapeutics during the 4th quarter worth approximately $26,000. PDS Planning Inc bought a new stake in Akebia Therapeutics in the fourth quarter worth $28,000. Mariner LLC bought a new stake in Akebia Therapeutics in the fourth quarter worth $28,000. Cibc World Markets Corp bought a new stake in Akebia Therapeutics in the fourth quarter worth $37,000. Finally, Wealth Effects LLC boosted its stake in Akebia Therapeutics by 18.5% during the fourth quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company's stock worth $61,000 after buying an additional 5,000 shares during the period. Institutional investors own 33.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AKBA. StockNews.com raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. HC Wainwright reissued a "buy" rating and set a $7.50 target price on shares of Akebia Therapeutics in a research note on Friday, April 4th. Leerink Partners began coverage on shares of Akebia Therapeutics in a research note on Monday, April 28th. They set an "outperform" rating and a $7.00 target price for the company. Leerink Partnrs upgraded Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. Finally, Piper Sandler lifted their price objective on Akebia Therapeutics from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Friday, March 14th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $6.63.

Akebia Therapeutics Stock Performance

Shares of Akebia Therapeutics stock opened at $2.61 on Friday. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.90. The company has a market capitalization of $685.48 million, a PE ratio of -11.35 and a beta of 0.88. The company has a 50-day simple moving average of $2.13 and a two-hundred day simple moving average of $2.02.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last posted 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 company 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.

About Akebia Therapeutics

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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