Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 930.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,392 shares of the biopharmaceutical company's stock after buying an additional 122,252 shares during the period. Mackenzie Financial Corp owned 0.06% of Akebia Therapeutics worth $257,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SRS Capital Advisors Inc. acquired a new stake in shares of Akebia Therapeutics during the fourth quarter valued at $26,000. PDS Planning Inc purchased a new position in Akebia Therapeutics in the 4th quarter valued at about $28,000. Mariner LLC purchased a new position in Akebia Therapeutics in the 4th quarter valued at about $28,000. Cibc World Markets Corp acquired a new stake in shares of Akebia Therapeutics during the 4th quarter worth about $37,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Akebia Therapeutics during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 33.92% of the company's stock.

Analyst Ratings Changes

AKBA has been the topic of several recent analyst reports. Leerink Partnrs raised shares of Akebia Therapeutics to a "strong-buy" rating in a research note on Monday, April 28th. HC Wainwright started coverage on Akebia Therapeutics in a research note on Wednesday, June 4th. They set a "buy" rating and a $8.00 price target on the stock. Wall Street Zen upgraded Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Leerink Partners began coverage on Akebia Therapeutics in a research note on Monday, April 28th. They issued an "outperform" rating and a $7.00 target price for the company. Finally, Piper Sandler increased their target price on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $6.75.

Insider Buying and Selling at Akebia Therapeutics

In other news, CAO Richard C. Malabre sold 13,334 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was 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. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Akebia Therapeutics Price Performance

AKBA stock traded down $0.14 on Monday, hitting $3.83. 8,101,052 shares of the company were exchanged, compared to its average volume of 3,105,368. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -16.65 and a beta of 0.85. Akebia Therapeutics, Inc. has a twelve month low of $0.80 and a twelve month high of $4.06. The business's fifty day moving average is $2.48 and its two-hundred day moving average is $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 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.06. The firm had revenue of $57.34 million for the quarter, compared to analyst estimates of $44.88 million. Equities research analysts expect that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.

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.