Invesco Ltd. Has $500,000 Stock Holdings in Akebia Therapeutics, Inc. $AKBA

Key Points

• Invesco Ltd. increased its stake in Akebia Therapeutics by 116.0%, acquiring 139,957 shares during the first quarter, totaling 260,603 shares valued around $500,000.
• The stock price of Akebia Therapeutics dropped by 2.0% recently, with current trading at $2.96 and a market cap of approximately $784.81 million.
• Research analysts have mixed views on Akebia's stock, with reports showing a consensus rating of "Buy" and a price target of $6.75, alongside a downgrade by Zacks Research.

Invesco Ltd. raised its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 116.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 260,603 shares of the biopharmaceutical company's stock after purchasing an additional 139,957 shares during the period. Invesco Ltd. owned 0.10% of Akebia Therapeutics worth $500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AKBA. Mariner LLC bought a new stake in shares of Akebia Therapeutics during the 4th quarter valued at about $28,000. Unified Investment Management boosted its stake in Akebia Therapeutics by 47.8% during the 1st quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 5,500 shares during the period. New York State Common Retirement Fund boosted its stake in Akebia Therapeutics by 207.2% during 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 purchasing an additional 25,900 shares during the period. Raymond James Financial Inc. acquired a new position in Akebia Therapeutics during the 4th quarter valued at about $85,000. Finally, PDS Planning Inc boosted its stake in Akebia Therapeutics by 200.0% during the 1st quarter. PDS Planning Inc now owns 45,000 shares of the biopharmaceutical company's stock valued at $86,000 after purchasing an additional 30,000 shares during the period. Institutional investors own 33.92% of the company's stock.

Akebia Therapeutics Stock Down 1.5%

AKBA stock traded down $0.05 during trading hours on Wednesday, hitting $2.96. The company's stock had a trading volume of 1,414,012 shares, compared to its average volume of 4,156,241. The company has a quick ratio of 1.84, a current ratio of 1.98 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $783.49 million, a PE ratio of -17.38 and a beta of 1.02. Akebia Therapeutics, Inc. has a 12 month low of $1.24 and a 12 month high of $4.08. The stock has a 50 day moving average price of $3.47 and a two-hundred day moving average price of $2.85.

Insider Activity

In other Akebia Therapeutics news, CFO Erik Ostrowski sold 41,314 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $3.67, for a total value 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 $1,848,160.62. This represents a 7.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

AKBA has been the subject of a number of analyst reports. Wall Street Zen raised shares of Akebia Therapeutics from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. HC Wainwright started coverage on shares of Akebia Therapeutics in a research note on Wednesday, June 4th. They issued a "buy" rating and a $8.00 price target for the company. Finally, Zacks Research lowered shares of Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. One research 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $6.75.

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.