Jacobs Levy Equity Management Inc. Sells 805,459 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Jacobs Levy Equity Management Inc. lessened its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 39.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,228,710 shares of the biopharmaceutical company's stock after selling 805,459 shares during the period. Jacobs Levy Equity Management Inc. owned 0.56% of Akebia Therapeutics worth $2,335,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Akebia Therapeutics by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 10,884,200 shares of the biopharmaceutical company's stock worth $20,680,000 after buying an additional 813,902 shares in the last quarter. Geode Capital Management LLC increased its stake in Akebia Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,795,095 shares of the biopharmaceutical company's stock worth $9,112,000 after buying an additional 40,631 shares in the last quarter. Renaissance Technologies LLC increased its stake in Akebia Therapeutics by 2.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,823,527 shares of the biopharmaceutical company's stock worth $7,265,000 after buying an additional 105,727 shares in the last quarter. Northern Trust Corp increased its stake in Akebia Therapeutics by 3.1% in the 4th quarter. Northern Trust Corp now owns 1,685,641 shares of the biopharmaceutical company's stock worth $3,203,000 after buying an additional 50,542 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Akebia Therapeutics by 5.3% in the 4th quarter. Federated Hermes Inc. now owns 914,003 shares of the biopharmaceutical company's stock worth $1,737,000 after buying an additional 45,982 shares in the last quarter. Hedge funds and other institutional investors own 33.92% of the company's stock.

Akebia Therapeutics Price Performance

Shares of NASDAQ AKBA opened at $2.54 on Friday. The company has a market cap of $664.93 million, a P/E ratio of -11.04 and a beta of 0.88. Akebia Therapeutics, Inc. has a 1 year low of $0.80 and a 1 year high of $2.90. The firm has a 50-day simple moving average of $2.11 and a two-hundred day simple moving average of $2.01.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $57.34 million during the quarter, compared to the consensus estimate of $44.88 million. As a group, equities research analysts expect that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price objective on Akebia Therapeutics from $4.00 to $6.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. Jefferies Financial Group assumed coverage on Akebia Therapeutics in a research report on Tuesday, April 1st. They set a "buy" rating and a $6.00 price objective for the company. StockNews.com upgraded Akebia Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 3rd. Leerink Partnrs upgraded Akebia Therapeutics to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Leerink Partners started coverage on Akebia Therapeutics in a research report on Monday, April 28th. They set an "outperform" rating and a $7.00 price objective for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Akebia Therapeutics currently has an average rating of "Buy" and a consensus target price of $6.63.

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.

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