Akebia Therapeutics, Inc. $AKBA Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Akebia Therapeutics by 16.6%, acquiring an additional 1,801,603 shares, bringing their total ownership to 12,685,803 shares worth approximately $24.36 million.
• Several institutional investors, including Unified Investment Management and Hsbc Holdings PLC, have also increased their stakes in Akebia Therapeutics during the first and fourth quarters.
• Equities analysts have mixed ratings for Akebia Therapeutics, with one rating a "Strong Buy," four rating it as a "Buy," and one assigning a "Hold," resulting in an average target price of $6.75.

Vanguard Group Inc. lifted its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 16.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,685,803 shares of the biopharmaceutical company's stock after purchasing an additional 1,801,603 shares during the period. Vanguard Group Inc. owned 4.85% of Akebia Therapeutics worth $24,357,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mariner LLC purchased a new stake in Akebia Therapeutics during the fourth quarter worth $28,000. Unified Investment Management lifted its holdings in Akebia Therapeutics by 47.8% during the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 5,500 shares during the period. Aquatic Capital Management LLC purchased a new stake in Akebia Therapeutics during the fourth quarter worth $47,000. New York State Common Retirement Fund lifted its holdings in Akebia Therapeutics by 207.2% during the first quarter. New York State Common Retirement Fund now owns 38,400 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 25,900 shares during the period. Finally, Two Sigma Securities LLC lifted its holdings in Akebia Therapeutics by 206.8% during the fourth quarter. Two Sigma Securities LLC now owns 40,826 shares of the biopharmaceutical company's stock worth $78,000 after buying an additional 27,517 shares during the period. Hedge funds and other institutional investors own 33.92% of the company's stock.

Akebia Therapeutics Stock Up 0.3%

Shares of AKBA stock traded up $0.01 during trading hours on Wednesday, reaching $3.12. 6,260,991 shares of the company's stock were exchanged, compared to its average volume of 4,141,518. The stock's 50 day moving average is $3.52 and its 200-day moving average is $2.82. The company has a market cap of $827.24 million, a price-to-earnings ratio of -18.35 and a beta of 1.02. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61. Akebia Therapeutics, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.08.

Insider Buying and Selling at Akebia Therapeutics

In related news, CFO Erik Ostrowski sold 41,314 shares of the company's stock in a transaction on 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 $1,848,160.62. This represents a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Richard C. Malabre sold 15,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $4.01, for a total value of $60,150.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research lowered Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. HC Wainwright began coverage on Akebia Therapeutics in a research report on Wednesday, June 4th. They set a "buy" rating and a $8.00 price target on the stock. One research 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. According to MarketBeat, Akebia Therapeutics presently has an average rating of "Buy" and a consensus target price 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.