Blake Wise Sells 3,632 Shares of Achaogen Inc. (AKAO) Stock
Achaogen Inc. (NASDAQ:AKAO) COO Blake Wise sold 3,632 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $4.30, for a total value of $15,617.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Achaogen Inc. (NASDAQ:AKAO) opened at 4.96 on Tuesday. Achaogen Inc. has a 1-year low of $2.59 and a 1-year high of $6.50. The company has a 50-day moving average price of $4.16 and a 200 day moving average price of $3.70. The company’s market capitalization is $132.33 million.
Achaogen (NASDAQ:AKAO) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.67) by $0.20. The company earned $9.14 million during the quarter, compared to analysts’ expectations of $5.58 million. Achaogen had a negative return on equity of 118.45% and a negative net margin of 209.23%. The business’s revenue for the quarter was down 24.1% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. Equities research analysts anticipate that Achaogen Inc. will post ($2.71) EPS for the current year.
Several research analysts have recently commented on AKAO shares. Zacks Investment Research upgraded Achaogen from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Needham & Company LLC reiterated a “hold” rating on shares of Achaogen in a research note on Tuesday, August 9th. SunTrust Banks Inc. reiterated a “buy” rating and set a $10.00 target price on shares of Achaogen in a research note on Monday, September 26th. Finally, Wedbush upgraded Achaogen from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $7.00 to $10.00 in a research note on Tuesday, June 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $8.17.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of Achaogen by 174.0% in the first quarter. Renaissance Technologies LLC now owns 64,400 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 40,900 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Achaogen by 13.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 85,472 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 10,330 shares during the last quarter. Opaleye Management Inc. acquired a new stake in shares of Achaogen during the first quarter worth approximately $704,000. NEA Management Company LLC acquired a new stake in shares of Achaogen during the second quarter worth approximately $17,870,000. Finally, Vanguard Group Inc. increased its stake in shares of Achaogen by 10.7% in the second quarter. Vanguard Group Inc. now owns 358,478 shares of the biopharmaceutical company’s stock worth $1,358,000 after buying an additional 34,751 shares during the last quarter. 56.84% of the stock is owned by hedge funds and other institutional investors.
Achaogen Company Profile
Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).
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