Investors Buy Large Volume of Call Options on Akebia Therapeutics (NASDAQ:AKBA)

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) was the recipient of some unusual options trading activity on Friday. Stock investors bought 6,762 call options on the stock. This is an increase of 311% compared to the average daily volume of 1,644 call options.

Analyst Ratings Changes

A number of brokerages have weighed in on AKBA. HC Wainwright reaffirmed a "buy" rating and set a $5.00 target price on shares of Akebia Therapeutics in a research note on Friday, March 15th. BTIG Research reiterated a "buy" rating and set a $4.00 price target on shares of Akebia Therapeutics in a report on Wednesday, November 29th. Finally, StockNews.com upgraded shares of Akebia Therapeutics from a "hold" rating to a "buy" rating in a report on Monday.

Akebia Therapeutics Stock Up 6.4 %

NASDAQ AKBA traded up $0.13 on Friday, reaching $2.17. The company had a trading volume of 7,843,376 shares, compared to its average volume of 2,898,297. The stock has a market capitalization of $454.33 million, a PE ratio of -7.75 and a beta of 0.78. The firm's 50 day moving average price is $1.58 and its 200 day moving average price is $1.27. Akebia Therapeutics has a 12 month low of $0.49 and a 12 month high of $2.24.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.04). The company had revenue of $56.20 million during the quarter, compared to the consensus estimate of $55.64 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, research analysts expect that Akebia Therapeutics will post -0.27 EPS for the current year.

Insider Activity

In other news, CEO John P. Butler sold 46,489 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.68, for a total transaction of $78,101.52. Following the completion of the transaction, the chief executive officer now directly owns 2,128,883 shares of the company's stock, valued at $3,576,523.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Steven Keith Burke sold 24,311 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1.68, for a total value of $40,842.48. Following the completion of the transaction, the senior vice president now directly owns 711,376 shares of the company's stock, valued at $1,195,111.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John P. Butler sold 46,489 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $1.68, for a total transaction of $78,101.52. Following the completion of the transaction, the chief executive officer now directly owns 2,128,883 shares of the company's stock, valued at $3,576,523.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,893 shares of company stock valued at $300,598. Insiders own 3.84% of the company's stock.

Hedge Funds Weigh In On Akebia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of Akebia Therapeutics by 14.1% in the 3rd quarter. Victory Capital Management Inc. now owns 755,488 shares of the biopharmaceutical company's stock worth $861,000 after buying an additional 93,590 shares in the last quarter. State of Wyoming purchased a new position in shares of Akebia Therapeutics during the 2nd quarter worth about $44,000. Mirabella Financial Services LLP purchased a new position in shares of Akebia Therapeutics during the 1st quarter worth about $40,000. HighTower Advisors LLC boosted its stake in shares of Akebia Therapeutics by 18.4% during the 1st quarter. HighTower Advisors LLC now owns 70,350 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 10,925 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Akebia Therapeutics by 123.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 50,066 shares during the period. 27.04% of the stock is owned by hedge funds and other institutional investors.

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 adult patients.