Akebia Therapeutics, Inc. (AKBA) Holdings Raised by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its holdings in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 10.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,640 shares of the biopharmaceutical company’s stock after acquiring an additional 7,571 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of Akebia Therapeutics worth $1,527,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of AKBA. RA Capital Management LLC bought a new stake in shares of Akebia Therapeutics in the second quarter worth about $12,018,000. Farallon Capital Management LLC bought a new stake in shares of Akebia Therapeutics in the second quarter worth about $10,490,000. Renaissance Technologies LLC increased its holdings in shares of Akebia Therapeutics by 165.4% in the second quarter. Renaissance Technologies LLC now owns 1,025,300 shares of the biopharmaceutical company’s stock worth $14,734,000 after purchasing an additional 639,033 shares during the last quarter. Numeric Investors LLC bought a new stake in shares of Akebia Therapeutics in the second quarter worth about $8,938,000. Finally, State Street Corp increased its holdings in shares of Akebia Therapeutics by 72.9% in the second quarter. State Street Corp now owns 946,888 shares of the biopharmaceutical company’s stock worth $13,604,000 after purchasing an additional 399,160 shares during the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.
In other Akebia Therapeutics news, SVP Michel Dahan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $19.30, for a total transaction of $96,500.00. Following the completion of the transaction, the senior vice president now owns 97,224 shares in the company, valued at $1,876,423.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 7,586 shares of company stock valued at $147,289 in the last 90 days. Company insiders own 7.95% of the company’s stock.
Several equities research analysts have weighed in on AKBA shares. ValuEngine cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Royal Bank of Canada reissued a “hold” rating and set a $17.00 price objective on shares of Akebia Therapeutics in a research note on Thursday, November 2nd. Mizuho started coverage on Akebia Therapeutics in a research note on Wednesday, October 4th. They set a “buy” rating and a $24.00 price objective on the stock. BTIG Research started coverage on Akebia Therapeutics in a research note on Thursday, December 7th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.20.
Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) opened at $15.70 on Tuesday. Akebia Therapeutics, Inc. has a 52 week low of $8.58 and a 52 week high of $20.25. The firm has a market capitalization of $747.84, a P/E ratio of -4.97 and a beta of 0.87.
Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.07. Akebia Therapeutics had a negative return on equity of 198.85% and a negative net margin of 137.80%. The business had revenue of $41.28 million during the quarter, compared to analyst estimates of $34.00 million. equities analysts anticipate that Akebia Therapeutics, Inc. will post -2.25 EPS for the current fiscal year.
Akebia Therapeutics Company Profile
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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