Cubist Systematic Strategies LLC purchased a new stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,038 shares of the biopharmaceutical company’s stock, valued at approximately $159,000. Cubist Systematic Strategies LLC owned approximately 0.06% of Akebia Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AKBA. Creative Planning raised its stake in shares of Akebia Therapeutics by 2.9% during the second quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 300 shares during the period. Rhumbline Advisers raised its stake in shares of Akebia Therapeutics by 1.3% during the second quarter. Rhumbline Advisers now owns 41,510 shares of the biopharmaceutical company’s stock valued at $596,000 after purchasing an additional 518 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Akebia Therapeutics by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 49,277 shares of the biopharmaceutical company’s stock valued at $453,000 after purchasing an additional 608 shares during the period. Legal & General Group Plc raised its stake 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 purchasing an additional 714 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Akebia Therapeutics by 1.0% during the second quarter. Wells Fargo & Company MN now owns 88,116 shares of the biopharmaceutical company’s stock valued at $1,266,000 after purchasing an additional 880 shares during the period. 58.25% of the stock is currently owned by hedge funds and other institutional investors.

In other Akebia Therapeutics news, SVP Michel Dahan sold 1,398 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $19.64, for a total transaction of $27,456.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 12,586 shares of company stock valued at $222,289. 8.67% of the stock is owned by insiders.

A number of analysts have recently issued reports on AKBA shares. BidaskClub lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada began coverage on shares of Akebia Therapeutics in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $17.00 price target for the company. Finally, Mizuho began coverage on shares of Akebia Therapeutics in a research note on Wednesday, October 4th. They issued a “buy” rating and a $24.00 price target for the company. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Akebia Therapeutics presently has an average rating of “Buy” and an average price target of $20.63.

Shares of Akebia Therapeutics, Inc. (NASDAQ AKBA) opened at $17.80 on Monday. Akebia Therapeutics, Inc. has a 12 month low of $7.24 and a 12 month high of $20.25.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.36. The business had revenue of $28.52 million for the quarter, compared to the consensus estimate of $26.50 million. analysts expect that Akebia Therapeutics, Inc. will post -3.03 earnings per share for the current year.

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Akebia Therapeutics Company 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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