BlackRock Inc. bought a new position in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,986,374 shares of the biopharmaceutical company's stock, valued at approximately $22,784,000. BlackRock Inc. owned about 7.45% of Akebia Therapeutics at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Baird Financial Group Inc. increased its stake in shares of Akebia Therapeutics by 23.0% in the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company's stock valued at $41,000 after purchasing an additional 4,000 shares during the period. Legal & General Group Plc boosted its position in shares of Akebia Therapeutics by 26.0% during the second quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company's stock worth $85,000 after buying an additional 4,798 shares during the period. Polymer Capital Management US LLC boosted its position in shares of Akebia Therapeutics by 49.5% during the third quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company's stock worth $50,000 after buying an additional 6,034 shares during the period. Deutsche Bank AG grew its holdings in Akebia Therapeutics by 5.2% in the 4th quarter. Deutsche Bank AG now owns 164,655 shares of the biopharmaceutical company's stock worth $265,000 after buying an additional 8,103 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Akebia Therapeutics by 16.8% in the 2nd quarter. Raymond James Financial Inc. now owns 59,502 shares of the biopharmaceutical company's stock worth $217,000 after buying an additional 8,568 shares in the last quarter. Institutional investors and hedge funds own 33.92% of the company's stock.
Akebia Therapeutics Stock Up 3.8%
AKBA stock opened at $0.98 on Thursday. The firm has a market cap of $271.65 million, a PE ratio of -8.91 and a beta of 0.19. Akebia Therapeutics, Inc. has a 12 month low of $0.81 and a 12 month high of $3.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.43 and a quick ratio of 1.35. The firm has a 50 day simple moving average of $1.13 and a 200 day simple moving average of $1.20.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The firm had revenue of $49.13 million for the quarter, compared to analyst estimates of $48.85 million. Akebia Therapeutics had a negative net margin of 13.54% and a negative return on equity of 88.88%. Equities research analysts forecast that Akebia Therapeutics, Inc. will post -0.14 earnings per share for the current fiscal year.
Insider Buying and Selling at Akebia Therapeutics
In related news, CFO Erik Ostrowski sold 56,019 shares of Akebia Therapeutics stock in a transaction on Monday, June 29th. The stock was sold at an average price of $1.11, for a total value of $62,181.09. Following the transaction, the chief financial officer directly owned 616,616 shares in the company, valued at $684,443.76. The trade was a 8.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
AKBA has been the topic of several analyst reports. Wall Street Zen downgraded Akebia Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Weiss Ratings cut Akebia Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday. HC Wainwright reissued a "buy" rating on shares of Akebia Therapeutics in a report on Thursday, August 6th. Zacks Research upgraded shares of Akebia Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Leerink Partners downgraded shares of Akebia Therapeutics from an "outperform" rating to a "market perform" rating and set a $1.00 price objective for the company. in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $3.75.
Read Our Latest Report on Akebia Therapeutics
Akebia Therapeutics Company Profile
(
Free Report)
Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company's lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia's research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.
Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.
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