Woodline Partners LP Makes New $4.77 Million Investment in Akebia Therapeutics, Inc. $AKBA

Key Points

• Woodline Partners LP invested approximately $4.77 million in Akebia Therapeutics, Inc. by purchasing 2,485,578 shares, representing a 0.95% ownership stake in the biopharmaceutical company.
• Institutional investors currently hold around 33.92% of Akebia Therapeutics' shares, with several hedge funds significantly increasing their stakes in the first quarter of the year.
• Wall Street analysts maintain a consensus rating of "Buy" for Akebia Therapeutics, with a target price averaging $6.75, despite some recent downgrades from stronger ratings.

Woodline Partners LP acquired a new position in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,485,578 shares of the biopharmaceutical company's stock, valued at approximately $4,772,000. Woodline Partners LP owned approximately 0.95% of Akebia Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. AIGH Capital Management LLC acquired a new stake in Akebia Therapeutics in the first quarter valued at $5,616,000. Nantahala Capital Management LLC acquired a new stake in Akebia Therapeutics in the first quarter valued at $3,840,000. Vanguard Group Inc. grew its holdings in Akebia Therapeutics by 16.6% in the first quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company's stock valued at $24,357,000 after purchasing an additional 1,801,603 shares during the last quarter. Informed Momentum Co LLC acquired a new stake in Akebia Therapeutics in the first quarter valued at $3,414,000. Finally, Goldman Sachs Group Inc. grew its holdings in Akebia Therapeutics by 171.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company's stock valued at $5,231,000 after purchasing an additional 1,722,245 shares during the last quarter. Hedge funds and other institutional investors own 33.92% of the company's stock.

Akebia Therapeutics Price Performance

Shares of AKBA traded up $0.09 during trading hours on Thursday, reaching $2.89. 1,303,349 shares of the company traded hands, compared to its average volume of 4,103,301. The company has a quick ratio of 1.84, a current ratio of 1.98 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $764.93 million, a PE ratio of -16.97 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 stock has a fifty day simple moving average of $3.38 and a 200 day simple moving average of $2.89.

Insider Transactions at Akebia Therapeutics

In other Akebia Therapeutics news, CFO Erik Ostrowski sold 41,314 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $3.67, for a total value of $151,622.38. Following the sale, the chief financial officer directly owned 503,586 shares of the company's stock, valued at approximately $1,848,160.62. This trade represents a 7.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several 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. Wall Street Zen lowered Akebia Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Finally, HC Wainwright assumed coverage on Akebia Therapeutics in a report on Wednesday, June 4th. They issued a "buy" rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus 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.