Vanguard Group Inc. Buys 105,645 Shares of Akebia Therapeutics, Inc. (AKBA)
Vanguard Group Inc. increased its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,301,880 shares of the biopharmaceutical company’s stock after buying an additional 105,645 shares during the period. Vanguard Group Inc. owned about 7.11% of Akebia Therapeutics worth $11,977,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. American International Group Inc. boosted its position in shares of Akebia Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 22,121 shares of the biopharmaceutical company’s stock worth $204,000 after buying an additional 1,460 shares in the last quarter. Piermont Capital Management Inc. bought a new position in shares of Akebia Therapeutics during the first quarter worth approximately $595,000. Teachers Advisors LLC boosted its position in shares of Akebia Therapeutics by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 63,804 shares of the biopharmaceutical company’s stock worth $664,000 after buying an additional 2,454 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of 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 in the last quarter. Finally, TFS Capital LLC bought a new position in shares of Akebia Therapeutics during the first quarter worth approximately $836,000. Institutional investors own 57.62% of the company’s stock.
Shares of Akebia Therapeutics, Inc. (NASDAQ AKBA) traded up 1.15% during mid-day trading on Thursday, hitting $16.76. The stock had a trading volume of 106,755 shares. The company’s market cap is $306.71 million. Akebia Therapeutics, Inc. has a one year low of $7.16 and a one year high of $16.98. The firm’s 50 day moving average price is $14.10 and its 200-day moving average price is $12.26.
Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million for the quarter, compared to analyst estimates of $26.50 million. On average, equities research analysts anticipate that Akebia Therapeutics, Inc. will post ($2.82) earnings per share for the current fiscal year.
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A number of brokerages have commented on AKBA. UBS AG restated a “buy” rating and set a $17.00 price objective (up previously from $12.00) on shares of Akebia Therapeutics in a research note on Friday, May 5th. Zacks Investment Research upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Monday, August 14th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, June 6th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective (up previously from $18.00) on shares of Akebia Therapeutics in a research note on Wednesday, May 17th. Finally, BidaskClub cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $20.29.
In other news, SVP Michel Dahan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the transaction, the senior vice president now directly owns 102,224 shares in the company, valued at approximately $1,533,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this purchase can be found here. Insiders have sold a total of 7,544 shares of company stock worth $111,287 over the last 90 days. 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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