Trexquant Investment LP Takes Position in Achaogen, Inc. (AKAO)
Trexquant Investment LP purchased a new stake in Achaogen, Inc. (NASDAQ:AKAO) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,436 shares of the biopharmaceutical company’s stock, valued at approximately $357,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in Achaogen by 64.4% in the first quarter. FMR LLC now owns 4,778,253 shares of the biopharmaceutical company’s stock valued at $120,556,000 after buying an additional 1,871,764 shares during the period. Vanguard Group Inc. raised its position in Achaogen by 11.2% in the first quarter. Vanguard Group Inc. now owns 1,066,701 shares of the biopharmaceutical company’s stock valued at $26,913,000 after buying an additional 107,406 shares during the period. TimesSquare Capital Management LLC acquired a new position in Achaogen during the first quarter valued at about $13,286,000. Nicholas Investment Partners LP raised its position in Achaogen by 55.9% in the first quarter. Nicholas Investment Partners LP now owns 248,168 shares of the biopharmaceutical company’s stock valued at $6,261,000 after buying an additional 88,977 shares during the period. Finally, Spark Investment Management LLC raised its position in Achaogen by 11.6% in the second quarter. Spark Investment Management LLC now owns 236,700 shares of the biopharmaceutical company’s stock valued at $5,143,000 after buying an additional 24,600 shares during the period. Hedge funds and other institutional investors own 68.59% of the company’s stock.
Achaogen, Inc. (NASDAQ:AKAO) opened at 18.16 on Thursday. The company has a 50-day moving average of $20.76 and a 200-day moving average of $22.15. The firm’s market cap is $766.95 million. Achaogen, Inc. has a 1-year low of $3.65 and a 1-year high of $27.79.
Achaogen (NASDAQ:AKAO) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by $0.18. Achaogen had a negative net margin of 281.88% and a negative return on equity of 86.24%. The firm had revenue of $1.30 million during the quarter, compared to the consensus estimate of $2.69 million. During the same period in the previous year, the company posted ($0.87) EPS. The firm’s revenue for the quarter was down 85.7% on a year-over-year basis. Analysts predict that Achaogen, Inc. will post ($3.00) earnings per share for the current year.
AKAO has been the topic of several recent research reports. Stifel Nicolaus restated a “buy” rating and issued a $31.00 price target (up previously from $28.00) on shares of Achaogen in a research report on Tuesday, May 9th. BidaskClub lowered shares of Achaogen from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company restated an “outperform” rating on shares of Achaogen in a research report on Monday, May 15th. ValuEngine upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, HC Wainwright initiated coverage on shares of Achaogen in a research report on Thursday, June 15th. They issued a “buy” rating and a $29.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $25.88.
In other Achaogen news, CFO Tobin Schilke sold 2,066 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were 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 is accessible through this hyperlink. 13.80% of the stock is currently owned by corporate insiders.
Achaogen Company Profile
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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