Mackenzie Financial Corp Has $257,000 Stock Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Mackenzie Financial Corp increased its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 930.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 135,392 shares of the biopharmaceutical company's stock after purchasing an additional 122,252 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Akebia Therapeutics worth $257,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AKBA. Vanguard Group Inc. increased its holdings in Akebia Therapeutics by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 10,884,200 shares of the biopharmaceutical company's stock worth $20,680,000 after purchasing an additional 813,902 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Akebia Therapeutics by 363.0% during the fourth quarter. JPMorgan Chase & Co. now owns 456,294 shares of the biopharmaceutical company's stock worth $867,000 after purchasing an additional 357,748 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Akebia Therapeutics by 117.9% in the fourth quarter. Bank of America Corp DE now owns 543,916 shares of the biopharmaceutical company's stock valued at $1,033,000 after buying an additional 294,343 shares during the period. Balyasny Asset Management L.P. bought a new position in Akebia Therapeutics in the 4th quarter valued at approximately $521,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Akebia Therapeutics during the fourth quarter valued at $342,000. 33.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AKBA. Leerink Partners started coverage on Akebia Therapeutics in a research report on Monday, April 28th. They set an "outperform" rating and a $7.00 target price for the company. Jefferies Financial Group began coverage on Akebia Therapeutics in a research note on Tuesday, April 1st. They issued a "buy" rating and a $6.00 price objective on the stock. Leerink Partnrs upgraded Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. Piper Sandler raised their price target on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. Finally, HC Wainwright assumed coverage on shares of Akebia Therapeutics in a research report on Wednesday. They issued a "buy" rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $6.75.

Akebia Therapeutics Price Performance

Shares of Akebia Therapeutics stock opened at $3.69 on Friday. The stock's 50-day moving average is $2.40 and its 200 day moving average is $2.14. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $3.73. The firm has a market cap of $969.13 million, a price-to-earnings ratio of -16.04 and a beta of 0.88.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. The business had revenue of $57.34 million during the quarter, compared to analyst estimates of $44.88 million. On average, sell-side analysts expect that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by company insiders.

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.

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