American Century Companies Inc. reduced its position in Akebia Therapeutics Inc (NASDAQ:AKBA) by 31.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 344,447 shares of the biopharmaceutical company’s stock after selling 156,524 shares during the quarter. American Century Companies Inc. owned 0.61% of Akebia Therapeutics worth $3,438,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Verition Fund Management LLC purchased a new stake in Akebia Therapeutics in the 1st quarter worth about $131,000. Lido Advisors LLC bought a new position in Akebia Therapeutics in the 1st quarter worth about $135,000. Cubist Systematic Strategies LLC bought a new position in Akebia Therapeutics in the 1st quarter worth about $158,000. DekaBank Deutsche Girozentrale bought a new position in Akebia Therapeutics in the 1st quarter worth about $201,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Akebia Therapeutics in the 1st quarter worth about $243,000. 75.18% of the stock is currently owned by institutional investors.

Shares of AKBA stock opened at $7.95 on Friday. The stock has a market capitalization of $465.49 million, a price-to-earnings ratio of -4.49 and a beta of 0.98. Akebia Therapeutics Inc has a one year low of $7.42 and a one year high of $20.25.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.09). Akebia Therapeutics had a negative net margin of 30.60% and a negative return on equity of 46.95%. The business had revenue of $48.79 million for the quarter, compared to the consensus estimate of $48.75 million. sell-side analysts anticipate that Akebia Therapeutics Inc will post -2.77 earnings per share for the current fiscal year.

A number of brokerages have commented on AKBA. Morgan Stanley began coverage on shares of Akebia Therapeutics in a research note on Friday. They issued a “weight” rating on the stock. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Wednesday, August 15th. Raymond James began coverage on shares of Akebia Therapeutics in a research note on Monday, August 13th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Needham & Company LLC dropped their target price on shares of Akebia Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Akebia Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $18.75.

Akebia Therapeutics Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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

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