Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) CAO Richard C. Malabre sold 13,334 shares of Akebia Therapeutics stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $3.53, for a total transaction of $47,069.02. Following the completion of the transaction, the chief accounting officer now directly owns 266,914 shares in the company, valued at approximately $942,206.42. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Akebia Therapeutics Stock Up 7.6%
Shares of AKBA stock traded up $0.28 during mid-day trading on Friday, reaching $3.97. 8,174,539 shares of the company's stock traded hands, compared to its average volume of 3,085,201. Akebia Therapeutics, Inc. has a 12 month low of $0.80 and a 12 month high of $4.00. The company has a market cap of $1.04 billion, a P/E ratio of -17.26 and a beta of 0.85. The company's 50-day moving average price is $2.44 and its 200-day moving average price is $2.16.
Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. Equities analysts predict that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.
Wall Street Analyst Weigh In
AKBA has been the topic of several analyst reports. Leerink Partners initiated coverage on shares of Akebia Therapeutics in a research note on Monday, April 28th. They issued an "outperform" rating and a $7.00 target price on the stock. HC Wainwright initiated coverage on shares of Akebia Therapeutics in a report on Wednesday. They set a "buy" rating and a $8.00 target price on the stock. Leerink Partnrs upgraded shares of Akebia Therapeutics to a "strong-buy" rating in a report on Monday, April 28th. Wall Street Zen upgraded shares of Akebia Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 3rd. Finally, Piper Sandler boosted their target price on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $6.75.
Read Our Latest Stock Analysis on AKBA
Hedge Funds Weigh In On Akebia Therapeutics
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Akebia Therapeutics by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company's stock worth $24,357,000 after purchasing an additional 1,801,603 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 40,631 shares in the last quarter. Renaissance Technologies LLC boosted 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 purchasing an additional 105,727 shares in the last quarter. AIGH Capital Management LLC bought a new position in Akebia Therapeutics in the 1st quarter worth about $5,616,000. Finally, Goldman Sachs Group Inc. boosted its stake in Akebia Therapeutics by 171.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company's stock worth $5,231,000 after purchasing an additional 1,722,245 shares in the last quarter. Institutional investors own 33.92% of the company's stock.
Akebia Therapeutics Company Profile
(
Get Free Report)
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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