1,500,000 Shares in Akebia Therapeutics, Inc. $AKBA Bought by Affinity Asset Advisors LLC

Key Points

• Affinity Asset Advisors LLC has purchased **1,500,000 shares** of Akebia Therapeutics, valued at approximately **$2.88 million**, increasing their ownership to **0.57%** of the company.
• Akebia Therapeutics saw its stock price **drop by 5.0%** recently, with current trading at **$3.03** and a market cap of **$803.37 million**.
• Multiple institutions have **shifted their stakes**, with New York State Common Retirement Fund boosting its position by **207.2%**, now owning **38,400 shares** valued at **$74,000**.

Affinity Asset Advisors LLC purchased a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,500,000 shares of the biopharmaceutical company's stock, valued at approximately $2,880,000. Affinity Asset Advisors LLC owned 0.57% of Akebia Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mariner LLC acquired a new stake in Akebia Therapeutics in the 4th quarter valued at approximately $28,000. Unified Investment Management increased its position in Akebia Therapeutics by 47.8% in the 1st quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 5,500 shares during the period. E Fund Management Co. Ltd. increased its position in Akebia Therapeutics by 51.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 19,311 shares of the biopharmaceutical company's stock valued at $37,000 after acquiring an additional 6,595 shares during the period. Aquatic Capital Management LLC acquired a new stake in Akebia Therapeutics in the 4th quarter valued at approximately $47,000. Finally, New York State Common Retirement Fund increased its position in Akebia Therapeutics by 207.2% in the 1st quarter. New York State Common Retirement Fund now owns 38,400 shares of the biopharmaceutical company's stock valued at $74,000 after acquiring an additional 25,900 shares during the period. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Price Performance

Shares of AKBA stock traded up $0.01 during mid-day trading on Friday, hitting $3.14. 2,510,780 shares of the stock traded hands, compared to its average volume of 4,293,497. Akebia Therapeutics, Inc. has a twelve month low of $1.24 and a twelve month high of $4.08. The firm has a market cap of $832.56 million, a price-to-earnings ratio of -18.47 and a beta of 0.96. The company's 50-day simple moving average is $3.55 and its 200-day simple moving average is $2.80. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.84 and a current ratio of 1.98.

Wall Street Analyst Weigh In

Several analysts recently commented on AKBA shares. Wall Street Zen upgraded Akebia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. HC Wainwright started coverage on Akebia Therapeutics in a research report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 target price on the stock. Finally, Zacks Research cut Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Akebia Therapeutics presently has an average rating of "Buy" and a consensus price target of $6.75.

Insider Buying and Selling at Akebia Therapeutics

In other news, CFO Erik Ostrowski sold 41,314 shares of Akebia Therapeutics stock in a transaction 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 transaction, the chief financial officer directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard C. Malabre sold 15,000 shares of Akebia Therapeutics stock in a transaction on Monday, June 9th. The shares were sold at an average price of $4.01, for a total value of $60,150.00. Following the transaction, the chief accounting officer owned 266,914 shares in the company, valued at approximately $1,070,325.14. This trade represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,648 shares of company stock worth $258,841. 3.00% of the stock is owned by insiders.

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.