Geode Capital Management LLC Has $4.19 Million Stake in Achaogen, Inc. (AKAO)
Geode Capital Management LLC boosted its stake in Achaogen, Inc. (NASDAQ:AKAO) by 18.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 166,055 shares of the biopharmaceutical company’s stock after buying an additional 26,100 shares during the period. Geode Capital Management LLC’s holdings in Achaogen were worth $4,189,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 1,500 shares during the last quarter. Sigma Planning Corp bought a new stake in Achaogen during the first quarter valued at $218,000. Fox Run Management L.L.C. bought a new stake in Achaogen during the first quarter valued at $240,000. First Midwest Bank Trust Division bought a new stake in Achaogen during the first quarter valued at $436,000. Finally, Hartwell J M Limited Partnership increased its stake in Achaogen by 21.2% in the first quarter. Hartwell J M Limited Partnership now owns 20,000 shares of the biopharmaceutical company’s stock valued at $505,000 after buying an additional 3,500 shares during the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.
Achaogen, Inc. (NASDAQ AKAO) traded up 1.84% on Wednesday, reaching $17.69. 122,780 shares of the company’s stock were exchanged. The firm’s market capitalization is $747.10 million. Achaogen, Inc. has a 12 month low of $3.65 and a 12 month high of $27.79. The firm has a 50-day moving average of $20.85 and a 200-day moving average of $22.18.
Achaogen (NASDAQ:AKAO) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.18. The firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $2.69 million. Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. The company’s revenue for the quarter was down 85.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.87) EPS. On average, equities analysts expect that Achaogen, Inc. will post ($3.00) earnings per share for the current year.
Several equities research analysts have recently weighed in on AKAO shares. Wedbush reissued an “outperform” rating and issued a $28.00 target price on shares of Achaogen in a research report on Monday, April 24th. Cowen and Company reissued an “outperform” rating on shares of Achaogen in a research report on Friday, May 5th. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 target price (up previously from $28.00) on shares of Achaogen in a research report on Tuesday, May 9th. ValuEngine raised shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, HC Wainwright started coverage on shares of Achaogen in a research report on Thursday, June 15th. They issued a “buy” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $25.88.
In related news, CFO Tobin Schilke sold 2,066 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $21.53, for a total transaction of $44,480.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.80% of the company’s stock.
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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