Maven Securities LTD Invests $384,000 in Akebia Therapeutics, Inc. $AKBA

Key Points

• Maven Securities LTD has acquired a new position in Akebia Therapeutics, purchasing 200,000 shares valued at approximately $384,000 during the first quarter.
• Institutional investors now own about 33.92% of Akebia Therapeutics' stock, with several hedge funds adjusting their positions in recent months.
• In recent trading, Akebia Therapeutics' shares opened at $3.04, reflecting a 2.3% decline in share value.

Maven Securities LTD bought a new position in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 200,000 shares of the biopharmaceutical company's stock, valued at approximately $384,000. Maven Securities LTD owned about 0.08% of Akebia Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mariner LLC acquired a new stake in shares of Akebia Therapeutics in the 4th quarter worth $28,000. Unified Investment Management increased its stake in shares of 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 acquiring an additional 5,500 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in shares of Akebia Therapeutics by 51.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 19,311 shares of the biopharmaceutical company's stock worth $37,000 after acquiring an additional 6,595 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Akebia Therapeutics in the 4th quarter worth $47,000. Finally, New York State Common Retirement Fund raised its position in Akebia Therapeutics by 207.2% in the first 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. 33.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Akebia Therapeutics

In other news, CAO Richard C. Malabre sold 15,000 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer directly owned 266,914 shares of the company's stock, valued at approximately $1,070,325.14. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Erik Ostrowski sold 41,314 shares of the business's stock in a transaction dated Monday, June 30th. The stock was 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 approximately $1,848,160.62. This represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,648 shares of company stock valued at $258,841 over the last three months. 3.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on AKBA shares. Leerink Partners initiated coverage on Akebia Therapeutics in a research report on Monday, April 28th. They issued an "outperform" rating and a $7.00 target price on the stock. HC Wainwright initiated coverage on Akebia Therapeutics in a research report on Wednesday, June 4th. They set a "buy" rating and a $8.00 price objective for the company. Wall Street Zen raised Akebia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Zacks Research downgraded Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Leerink Partnrs raised Akebia Therapeutics to a "strong-buy" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Akebia Therapeutics has a consensus rating of "Buy" and an average target price of $6.75.

Akebia Therapeutics Trading Down 3.0%

NASDAQ AKBA traded down $0.0950 during trading on Monday, hitting $3.0950. The stock had a trading volume of 784,295 shares, compared to its average volume of 4,133,561. The company has a market capitalization of $820.62 million, a PE ratio of -18.26 and a beta of 0.96. 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 firm has a 50 day moving average price of $3.60 and a 200 day moving average price of $2.77. Akebia Therapeutics, Inc. has a twelve month low of $1.24 and a twelve month high of $4.08.

Akebia Therapeutics 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.