Wellington Management Group LLP Takes $63.37 Million Position in Aktis Oncology $AKTS

Key Points

• Wellington Management Group purchased 1.97 million Aktis Oncology shares worth approximately $63.4 million, giving it a 3.68% stake. Institutional investors collectively own 28.84% of the company.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $35.00; target prices range from $33 to $37.
• Aktis Oncology shares opened at $26.92 and recently traded up 3.6%. The company reported quarterly revenue of $3.38 million but missed earnings expectations, posting an EPS loss of $0.44 versus the expected $0.43 loss.

Wellington Management Group LLP purchased a new position in Aktis Oncology (NASDAQ:AKTS - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,966,244 shares of the technology company's stock, valued at approximately $63,372,000. Wellington Management Group LLP owned about 3.68% of Aktis Oncology at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. State of Wyoming purchased a new position in Aktis Oncology in the second quarter valued at about $32,000. Bank of New York Mellon Corp lifted its holdings in shares of Aktis Oncology by 14.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company's stock valued at $1,587,000 after buying an additional 6,349 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Aktis Oncology by 49.3% in the 2nd quarter. Deutsche Bank AG now owns 21,022 shares of the technology company's stock valued at $678,000 after buying an additional 6,942 shares in the last quarter. BlackRock Inc. grew its stake in shares of Aktis Oncology by 7.9% in the 2nd quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company's stock valued at $73,431,000 after buying an additional 166,231 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in Aktis Oncology in the second quarter worth approximately $1,406,000. Institutional investors and hedge funds own 28.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AKTS. Wedbush began coverage on shares of Aktis Oncology in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $35.00 target price for the company. Wall Street Zen lowered shares of Aktis Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. HC Wainwright lifted their price objective on shares of Aktis Oncology from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of Aktis Oncology from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, BMO Capital Markets initiated coverage on shares of Aktis Oncology in a research report on Tuesday, August 18th. They set an "outperform" rating and a $37.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $35.00.

Aktis Oncology Trading Up 3.6%

NASDAQ AKTS opened at $26.92 on Thursday. The company has a fifty day simple moving average of $25.78 and a 200 day simple moving average of $21.69. The company has a market cap of $1.45 billion and a P/E ratio of -32.83. Aktis Oncology has a 1 year low of $14.72 and a 1 year high of $34.19.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) last announced its earnings results on Thursday, August 13th. The technology company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The company had revenue of $3.38 million for the quarter, compared to analysts' expectations of $2.70 million. Equities research analysts forecast that Aktis Oncology will post -1.8 EPS for the current fiscal year.

Insider Activity at Aktis Oncology

In related news, Director Ken Herrmann sold 4,856 shares of the business's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $24.56, for a total transaction of $119,263.36. Following the completion of the transaction, the director owned 3,506 shares of the company's stock, valued at approximately $86,107.36. The trade was a 58.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.30% of the company's stock.

About Aktis Oncology

Aktis Oncology NASDAQ: AKTS is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company's activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.

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