Renaissance Technologies LLC raised its position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 85.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 386,267 shares of the biopharmaceutical company’s stock after buying an additional 177,667 shares during the period. Renaissance Technologies LLC’s holdings in Akebia Therapeutics were worth $3,554,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Piermont Capital Management Inc. acquired a new stake in Akebia Therapeutics during the first quarter worth $595,000. Acadian Asset Management LLC acquired a new stake in Akebia Therapeutics during the first quarter worth $2,727,000. Highbridge Capital Management LLC increased its stake in Akebia Therapeutics by 140.6% in the fourth quarter. Highbridge Capital Management LLC now owns 51,943 shares of the biopharmaceutical company’s stock worth $541,000 after buying an additional 30,357 shares during the last quarter. First Manhattan Co. increased its stake in Akebia Therapeutics by 64.2% in the first quarter. First Manhattan Co. now owns 1,705,300 shares of the biopharmaceutical company’s stock worth $15,432,000 after buying an additional 666,800 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Akebia Therapeutics by 734.2% in the first quarter. Russell Investments Group Ltd. now owns 89,467 shares of the biopharmaceutical company’s stock worth $823,000 after buying an additional 78,742 shares during the last quarter. Institutional investors own 48.15% of the company’s stock.

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) traded down 0.43% on Thursday, reaching $13.89. 19,476 shares of the company’s stock traded hands. Akebia Therapeutics, Inc. has a one year low of $7.16 and a one year high of $16.54. The firm’s market cap is $254.19 million. The company’s 50-day moving average price is $14.19 and its 200 day moving average price is $11.82.

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 Thomson Reuters’ consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million during the quarter, compared to the consensus estimate of $26.50 million. On average, equities analysts forecast that Akebia Therapeutics, Inc. will post ($3.50) EPS for the current fiscal year.

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AKBA has been the subject of a number of analyst reports. Aegis lifted their price target on shares of Akebia Therapeutics from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target (up from $18.00) on shares of Akebia Therapeutics in a research report on Wednesday, May 17th. HC Wainwright dropped their price target on shares of Akebia Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, July 10th. JMP Securities lifted their price target on shares of Akebia Therapeutics from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Zacks Investment Research downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Akebia Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $19.71.

In related news, Director Muneer A. Satter acquired 1,034,482 shares of the stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average price of $14.50 per share, for a total transaction of $14,999,989.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 7.95% of the stock is owned by company insiders.

About Akebia Therapeutics

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

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