Insider Selling: Akebia Therapeutics, Inc. (AKBA) Director Sells $23,332.32 in Stock
Akebia Therapeutics, Inc. (NASDAQ:AKBA) Director Duane Nash sold 1,188 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $19.64, for a total value of $23,332.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Akebia Therapeutics, Inc. (NASDAQ AKBA) traded down 1.35% during midday trading on Friday, hitting $18.97. The stock had a trading volume of 238,094 shares. Akebia Therapeutics, Inc. has a 1-year low of $7.16 and a 1-year high of $20.25. The firm’s market capitalization is $347.15 million. The company’s 50 day moving average price is $17.31 and its 200-day moving average price is $13.90.
Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.36. The company had revenue of $28.52 million during the quarter, compared to analyst estimates of $26.50 million. Equities analysts predict that Akebia Therapeutics, Inc. will post ($2.64) earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in AKBA. SG Americas Securities LLC acquired a new position in Akebia Therapeutics in the 2nd quarter valued at about $132,000. Legal & General Group Plc grew its stake in Akebia Therapeutics by 8.0% in the 2nd quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 714 shares during the last quarter. Hartwell J M Limited Partnership acquired a new position in Akebia Therapeutics in the 2nd quarter valued at about $144,000. Creative Planning grew its stake in Akebia Therapeutics by 2.9% in the 2nd quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 300 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Akebia Therapeutics in the 2nd quarter valued at about $159,000. Institutional investors and hedge funds own 57.62% of the company’s stock.
AKBA has been the topic of several research analyst reports. BidaskClub downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Aegis reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research report on Friday, June 30th. Finally, Royal Bank Of Canada initiated coverage on Akebia Therapeutics in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Akebia Therapeutics presently has an average rating of “Buy” and an average price target of $22.00.
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).
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