Bank of America Corp DE Has $1.03 Million Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Bank of America Corp DE boosted its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 117.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 543,916 shares of the biopharmaceutical company's stock after acquiring an additional 294,343 shares during the period. Bank of America Corp DE owned about 0.25% of Akebia Therapeutics worth $1,033,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AKBA. Vanguard Group Inc. raised its position in shares of Akebia Therapeutics by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 10,884,200 shares of the biopharmaceutical company's stock worth $20,680,000 after buying an additional 813,902 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Akebia Therapeutics by 363.0% during the 4th quarter. JPMorgan Chase & Co. now owns 456,294 shares of the biopharmaceutical company's stock worth $867,000 after buying an additional 357,748 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Akebia Therapeutics during the 4th quarter worth about $239,000. Renaissance Technologies LLC raised its position in shares of Akebia Therapeutics by 2.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,823,527 shares of the biopharmaceutical company's stock worth $7,265,000 after buying an additional 105,727 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Akebia Therapeutics by 37.5% during the 4th quarter. Barclays PLC now owns 375,495 shares of the biopharmaceutical company's stock worth $713,000 after buying an additional 102,410 shares in the last quarter. Institutional investors own 33.92% of the company's stock.

Akebia Therapeutics Trading Down 3.5%

AKBA stock traded down $0.14 during trading on Monday, reaching $3.83. 8,101,052 shares of the stock were exchanged, compared to its average volume of 3,105,368. Akebia Therapeutics, Inc. has a twelve month low of $0.80 and a twelve month high of $4.06. The company has a market capitalization of $1.01 billion, a P/E ratio of -16.65 and a beta of 0.85. The stock has a 50 day simple moving average of $2.48 and a 200-day simple moving average of $2.17.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $57.34 million for the quarter, compared to analyst estimates of $44.88 million. Equities analysts predict that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

AKBA has been the topic of a number of research reports. Leerink Partners assumed coverage on shares of Akebia Therapeutics in a report on Monday, April 28th. They issued an "outperform" rating and a $7.00 target price on the stock. Wall Street Zen raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 3rd. Piper Sandler increased their target price on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Jefferies Financial Group started coverage on Akebia Therapeutics in a report on Tuesday, April 1st. They issued a "buy" rating and a $6.00 target price on the stock. Finally, HC Wainwright started coverage on Akebia Therapeutics in a report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 target price on the stock. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $6.75.

Insider Buying and Selling at Akebia Therapeutics

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 13,334 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $3.53, for a total value of $47,069.02. Following the transaction, the chief accounting officer now directly owns 266,914 shares in the company, valued at $942,206.42. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.