Wellington Management Group LLP Acquires 164,440 Shares of Akebia Therapeutics, Inc. $AKBA

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 grew its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 32.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 0.25% of Akebia Therapeutics worth $1,280,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mariner LLC purchased a new position in shares of Akebia Therapeutics during the fourth quarter valued at approximately $28,000. Unified Investment Management raised its holdings 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 during the period. E Fund Management Co. Ltd. boosted its stake in Akebia Therapeutics by 51.9% during the first quarter. E Fund Management Co. Ltd. now owns 19,311 shares of the biopharmaceutical company's stock valued at $37,000 after buying an additional 6,595 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Akebia Therapeutics in the 4th quarter valued at $47,000. Finally, New York State Common Retirement Fund raised its position in shares of 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 acquiring an additional 25,900 shares in the last quarter. 33.92% of the stock is owned by institutional investors.

Akebia Therapeutics Stock Performance

Shares of NASDAQ:AKBA traded down $0.05 during midday trading on Friday, reaching $2.98. 1,769,194 shares of the company's stock traded hands, compared to its average volume of 4,142,724. Akebia Therapeutics, Inc. has a one year low of $1.24 and a one year high of $4.08. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.84 and a current ratio of 1.98. The company has a market cap of $788.79 million, a price-to-earnings ratio of -17.44 and a beta of 1.02. The stock has a 50 day moving average of $3.51 and a 200 day moving average of $2.83.

Insiders Place Their Bets

In related news, CAO Richard C. Malabre sold 15,000 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer owned 266,914 shares of the company's stock, valued at approximately $1,070,325.14. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction of $151,622.38. Following the completion of the transaction, the chief financial officer owned 503,586 shares in the company, valued at $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. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AKBA. Zacks Research lowered shares of 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 for the company. 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. According to data from MarketBeat, Akebia Therapeutics has a consensus rating of "Buy" and an average price target of $6.75.

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.