Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its holdings in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 738.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,647 shares of the biopharmaceutical company's stock after buying an additional 149,402 shares during the period. Millennium Management LLC owned about 0.08% of Akebia Therapeutics worth $322,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its position in Akebia Therapeutics by 117.9% in the 4th 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. Wellington Management Group LLP raised its stake in shares of Akebia Therapeutics by 24.1% during the fourth quarter. Wellington Management Group LLP now owns 502,127 shares of the biopharmaceutical company's stock valued at $954,000 after acquiring an additional 97,409 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Akebia Therapeutics by 10.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company's stock valued at $240,000 after purchasing an additional 12,232 shares during the period. Deutsche Bank AG boosted its holdings in shares of Akebia Therapeutics by 64.0% in the fourth quarter. Deutsche Bank AG now owns 181,048 shares of the biopharmaceutical company's stock valued at $344,000 after purchasing an additional 70,663 shares during the period. Finally, Geode Capital Management LLC grew its stake in Akebia Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,795,095 shares of the biopharmaceutical company's stock worth $9,112,000 after purchasing an additional 40,631 shares in the last quarter. Institutional investors own 33.92% of the company's stock.

Insider Activity at Akebia Therapeutics

In other news, CAO Richard C. Malabre sold 13,334 shares of Akebia Therapeutics stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $3.53, for a total transaction 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 approximately $942,206.42. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Akebia Therapeutics Price Performance

Shares of AKBA stock traded down $0.09 during mid-day trading on Friday, hitting $3.56. 6,471,444 shares of the stock traded hands, compared to its average volume of 3,195,030. Akebia Therapeutics, Inc. has a 52-week low of $0.80 and a 52-week high of $4.08. The stock has a market cap of $934.98 million, a P/E ratio of -15.48 and a beta of 0.85. The stock's fifty day moving average is $2.63 and its two-hundred day moving average is $2.21.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $57.34 million during the quarter, compared to analyst estimates of $44.88 million. As a group, equities analysts forecast that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AKBA shares. Leerink Partners initiated 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. Piper Sandler lifted their price objective on Akebia Therapeutics from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Wall Street Zen upgraded shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Leerink Partnrs raised shares of Akebia Therapeutics to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group started coverage on shares of Akebia Therapeutics in a report on Tuesday, April 1st. They issued a "buy" rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average 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.