Mackenzie Financial Corp Raises Stock Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Mackenzie Financial Corp boosted its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 75.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 237,558 shares of the biopharmaceutical company's stock after purchasing an additional 102,166 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Akebia Therapeutics worth $456,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. AIGH Capital Management LLC acquired a new stake in Akebia Therapeutics in the first quarter worth about $5,616,000. New York State Common Retirement Fund boosted its stake in Akebia Therapeutics by 207.2% in the 1st quarter. New York State Common Retirement Fund now owns 38,400 shares of the biopharmaceutical company's stock worth $74,000 after purchasing an additional 25,900 shares in the last quarter. Unified Investment Management boosted its stake in Akebia Therapeutics by 47.8% in the 1st quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 5,500 shares in the last quarter. PDS Planning Inc grew its position in Akebia Therapeutics by 200.0% during the 1st quarter. PDS Planning Inc now owns 45,000 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Akebia Therapeutics by 6.3% during the 1st quarter. Rhumbline Advisers now owns 282,066 shares of the biopharmaceutical company's stock valued at $542,000 after purchasing an additional 16,677 shares in the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $4.01, for a total transaction of $60,150.00. Following the completion of the sale, the chief accounting officer directly owned 266,914 shares in the company, valued at approximately $1,070,325.14. The trade was a 5.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Erik Ostrowski sold 41,314 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 503,586 shares of the company's stock, valued at $1,848,160.62. The trade was a 7.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,648 shares of company stock worth $258,841. Company insiders own 3.00% of the company's stock.

Akebia Therapeutics Stock Down 20.6%

Akebia Therapeutics stock opened at $3.01 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.23 and a quick ratio of 2.02. The stock has a market capitalization of $790.55 million, a PE ratio of -14.33 and a beta of 0.96. The business has a 50 day simple moving average of $3.68 and a 200-day simple moving average of $2.69. Akebia Therapeutics, Inc. has a 12 month low of $1.07 and a 12 month high of $4.08.

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

Analysts Set New Price Targets

AKBA has been the subject of several research reports. HC Wainwright began coverage on shares of Akebia Therapeutics in a research note on Wednesday, June 4th. They set a "buy" rating and a $8.00 price objective for the company. Leerink Partners assumed coverage on Akebia Therapeutics in a report on Monday, April 28th. They issued an "outperform" rating and a $7.00 price target for the company. Leerink Partnrs raised shares of Akebia Therapeutics to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Wall Street Zen raised shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $6.75.

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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