Akebia Therapeutics, Inc. $AKBA Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has increased its stake in Akebia Therapeutics by 32.7%, acquiring an additional 164,440 shares, bringing its total ownership to 666,567 shares valued at approximately $1.28 million.
• Analysts report mixed ratings on Akebia Therapeutics, with one strong buy, four buy, and one hold rating; the average price target for the stock is currently $6.75.
• Recent insider transactions reveal that CFO Erik Ostrowski sold over 41,000 shares, reducing his ownership by 7.58%, indicating a notable change in insider sentiment.

Wellington Management Group LLP increased its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666,567 shares of the biopharmaceutical company's stock after acquiring an additional 164,440 shares during the period. Wellington Management Group LLP owned approximately 0.25% of Akebia Therapeutics worth $1,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have 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 raised its stake in shares of Akebia Therapeutics by 47.8% during the 1st 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 last quarter. E Fund Management Co. Ltd. boosted its position 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 buying an additional 6,595 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Akebia Therapeutics in the 4th quarter worth about $47,000. Finally, New York State Common Retirement Fund grew 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 valued at $74,000 after acquiring an additional 25,900 shares during the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Akebia Therapeutics

In other Akebia Therapeutics news, 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 transaction of $151,622.38. Following the transaction, the chief financial officer owned 503,586 shares of the company's stock, valued at $1,848,160.62. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Richard C. Malabre sold 15,000 shares of Akebia Therapeutics stock in a transaction on Monday, June 9th. The shares were 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 owned 266,914 shares in the company, valued at approximately $1,070,325.14. This trade represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.

Akebia Therapeutics Trading Down 2.4%

Shares of NASDAQ AKBA traded down $0.08 on Thursday, reaching $3.05. 1,456,620 shares of the company traded hands, compared to its average volume of 4,141,536. The stock has a market capitalization of $807.35 million, a PE ratio of -17.91 and a beta of 1.02. Akebia Therapeutics, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.08. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61. The company has a 50 day moving average of $3.52 and a 200 day moving average of $2.82.

Analyst Ratings Changes

AKBA has been the subject of a number of research reports. Zacks Research cut shares of Akebia Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. HC Wainwright assumed 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus 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.