Goldman Sachs Group Inc. Grows Stock Holdings in Akebia Therapeutics, Inc. $AKBA

Key Points

• Goldman Sachs Group Inc. has significantly raised its stake in Akebia Therapeutics by 171.8%, now owning approximately 1.04% of the company valued at over $5 million.
• Several large investors, including Unified Investment Management and New York State Common Retirement Fund, also increased their stakes in the company during the first quarter, indicating growing institutional interest in Akebia Therapeutics.
• Wall Street analysts have mixed sentiments, with Zacks Research downgrading Akebia from a "strong-buy" to a "hold," while others maintain a "buy" rating and set a target price of $8.00 on the stock.

Goldman Sachs Group Inc. grew its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 171.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,724,439 shares of the biopharmaceutical company's stock after buying an additional 1,722,245 shares during the period. Goldman Sachs Group Inc. owned 1.04% of Akebia Therapeutics worth $5,231,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AKBA. Bank of America Corp DE raised its holdings in Akebia Therapeutics by 117.9% in the 4th quarter. Bank of America Corp DE now owns 543,916 shares of the biopharmaceutical company's stock valued at $1,033,000 after acquiring an additional 294,343 shares in the last quarter. Monashee Investment Management LLC acquired a new position in Akebia Therapeutics in the 1st quarter valued at $2,880,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Akebia Therapeutics by 10.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company's stock valued at $240,000 after acquiring an additional 12,232 shares in the last quarter. Deutsche Bank AG raised its holdings in Akebia Therapeutics by 64.0% in the 4th quarter. Deutsche Bank AG now owns 181,048 shares of the biopharmaceutical company's stock valued at $344,000 after acquiring an additional 70,663 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Akebia Therapeutics by 28.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,579,355 shares of the biopharmaceutical company's stock valued at $3,032,000 after acquiring an additional 350,645 shares in the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.

Akebia Therapeutics Trading Down 4.7%

Shares of NASDAQ:AKBA traded down $0.14 during midday trading on Friday, reaching $2.82. The company's stock had a trading volume of 11,787,978 shares, compared to its average volume of 3,540,848. The firm has a market capitalization of $747.69 million, a price-to-earnings ratio of -16.59 and a beta of 1.02. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.84 and a current ratio of 1.98. The firm has a 50 day moving average price of $3.33 and a two-hundred day moving average price of $2.91. Akebia Therapeutics, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.08.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AKBA shares. Wall Street Zen lowered Akebia Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Zacks Research lowered Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, HC Wainwright began coverage on Akebia Therapeutics in a research note on Wednesday, June 4th. They issued a "buy" rating and a $8.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $6.75.

Insiders Place Their Bets

In other Akebia Therapeutics news, CFO Erik Ostrowski sold 41,314 shares of the business's 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 sale, the chief financial officer directly owned 503,586 shares of the company's stock, valued at approximately $1,848,160.62. The trade was a 7.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.00% of the company's stock.

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.