Sphera Funds Management LTD. Sells 125,000 Shares of Achaogen, Inc. (AKAO)
Sphera Funds Management LTD. reduced its position in shares of Achaogen, Inc. (NASDAQ:AKAO) by 62.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the biopharmaceutical company’s stock after selling 125,000 shares during the period. Sphera Funds Management LTD. owned 0.21% of Achaogen worth $1,630,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in AKAO. Legal & General Group Plc purchased a new stake in shares of Achaogen during the second quarter worth about $168,000. Bank of Montreal Can raised its stake in shares of Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,500 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Achaogen during the first quarter worth about $199,000. Sigma Planning Corp raised its stake in shares of Achaogen by 9.6% in the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 825 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Achaogen by 691.2% in the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 9,677 shares in the last quarter. 84.12% of the stock is currently owned by institutional investors and hedge funds.
Achaogen, Inc. (AKAO) opened at 18.60 on Friday. The firm’s 50 day moving average price is $19.35 and its 200 day moving average price is $22.16. Achaogen, Inc. has a 52-week low of $3.68 and a 52-week high of $27.79. The firm’s market cap is $785.53 million.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.60) by $0.18. The company had revenue of $1.30 million during the quarter, compared to analysts’ expectations of $2.69 million. Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. The business’s revenue for the quarter was down 85.7% compared to the same quarter last year. During the same period last year, the company earned ($0.87) earnings per share. Equities research analysts anticipate that Achaogen, Inc. will post ($3.00) EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on AKAO shares. 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. BidaskClub raised Achaogen from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. HC Wainwright started coverage on Achaogen in a research report on Thursday, June 15th. They issued a “buy” rating and a $29.00 target price on the stock. Zacks Investment Research raised Achaogen from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a research report on Monday, July 17th. Finally, ValuEngine raised Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Achaogen currently has a consensus rating of “Buy” and an average price target of $25.88.
In other news, CFO Tobin Schilke sold 2,066 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $21.53, for a total value of $44,480.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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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