American International Group Inc. grew its position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 29.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,720 shares of the biopharmaceutical company’s stock after acquiring an additional 6,836 shares during the quarter. American International Group Inc. owned about 0.06% of Akebia Therapeutics worth $585,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Akebia Therapeutics during the second quarter valued at $132,000. Macquarie Group Ltd. acquired a new position in shares of Akebia Therapeutics during the third quarter valued at $183,000. Legal & General Group Plc boosted its holdings in shares of Akebia Therapeutics by 8.0% during the second quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 714 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Akebia Therapeutics during the second quarter valued at $159,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Akebia Therapeutics during the third quarter valued at $284,000. 62.73% of the stock is owned by institutional investors.

Shares of Akebia Therapeutics, Inc. (NASDAQ AKBA) opened at $15.70 on Friday. Akebia Therapeutics, Inc. has a 1 year low of $8.58 and a 1 year high of $20.25. The company has a market cap of $747.84, a PE ratio of -4.97 and a beta of 0.87.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.07. Akebia Therapeutics had a negative net margin of 137.80% and a negative return on equity of 198.85%. The firm had revenue of $41.28 million for the quarter, compared to analysts’ expectations of $34.00 million. sell-side analysts expect that Akebia Therapeutics, Inc. will post -2.25 EPS for the current fiscal year.

AKBA has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Royal Bank of Canada initiated coverage on shares of Akebia Therapeutics in a research note on Thursday, September 14th. They set a “sector perform” rating and a $17.00 price objective on the stock. Mizuho initiated coverage on shares of Akebia Therapeutics in a research note on Wednesday, October 4th. They set a “buy” rating and a $24.00 price objective on the stock. Zacks Investment Research cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $24.00 price objective on shares of Akebia Therapeutics in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $22.20.

In other Akebia Therapeutics news, SVP Michel Dahan sold 1,398 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $19.64, for a total transaction of $27,456.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 7,586 shares of company stock worth $147,289. 7.95% of the stock is owned by company insiders.

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Akebia Therapeutics Profile

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).

Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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