Russell Investments Group Ltd. reduced its position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 21.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,069 shares of the biopharmaceutical company’s stock after selling 19,398 shares during the quarter. Russell Investments Group Ltd. owned about 0.38% of Akebia Therapeutics worth $1,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AKBA. Marshall Wace North America L.P. bought a new position in Akebia Therapeutics during the 1st quarter valued at $6,232,000. MARSHALL WACE ASIA Ltd bought a new position in Akebia Therapeutics during the 1st quarter valued at $6,232,000. Renaissance Technologies LLC boosted its stake in Akebia Therapeutics by 85.2% during the 1st quarter. Renaissance Technologies LLC now owns 386,267 shares of the biopharmaceutical company’s stock valued at $3,554,000 after purchasing an additional 177,667 shares in the last quarter. Vanguard Group Inc. boosted its stake in Akebia Therapeutics by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 1,301,880 shares of the biopharmaceutical company’s stock valued at $11,977,000 after purchasing an additional 105,645 shares in the last quarter. Finally, UBS Group AG boosted its stake in Akebia Therapeutics by 79.0% during the 1st quarter. UBS Group AG now owns 151,646 shares of the biopharmaceutical company’s stock valued at $1,395,000 after purchasing an additional 66,948 shares in the last quarter. 57.62% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics, Inc. (NASDAQ AKBA) traded up 3.64% during midday trading on Wednesday, hitting $17.67. The stock had a trading volume of 220,794 shares. The stock’s 50-day moving average is $14.91 and its 200-day moving average is $12.77. The company’s market cap is $323.36 million. Akebia Therapeutics, Inc. has a one year low of $7.16 and a one year high of $17.67.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.36. The business had revenue of $28.52 million for the quarter, compared to the consensus estimate of $26.50 million. Equities analysts predict that Akebia Therapeutics, Inc. will post ($2.82) EPS for the current fiscal year.

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A number of equities analysts have issued reports on the company. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Monday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, June 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price target (up from $18.00) on shares of Akebia Therapeutics in a research note on Wednesday, May 17th. BidaskClub lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Aegis reaffirmed a “buy” rating on shares of Akebia Therapeutics in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.29.

In other Akebia Therapeutics news, Director Muneer A. Satter bought 1,034,482 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was bought at an average price of $14.50 per share, for a total transaction of $14,999,989.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michel Dahan sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the senior vice president now owns 102,224 shares of the company’s stock, valued at approximately $1,533,360. The disclosure for this sale can be found here. Insiders have sold a total of 7,544 shares of company stock valued at $111,287 in the last quarter. Corporate insiders own 8.67% of the company’s stock.

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).

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

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