Alambic Investment Management L.P. Purchases 65,514 Shares of Akebia Therapeutics Inc (AKBA)
Alambic Investment Management L.P. boosted its position in Akebia Therapeutics Inc (NASDAQ:AKBA) by 46.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 206,114 shares of the biopharmaceutical company’s stock after buying an additional 65,514 shares during the period. Alambic Investment Management L.P.’s holdings in Akebia Therapeutics were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Verition Fund Management LLC acquired a new position in Akebia Therapeutics in the 1st quarter valued at $131,000. Lido Advisors LLC acquired a new position in Akebia Therapeutics in the 1st quarter valued at $135,000. Cubist Systematic Strategies LLC acquired a new position in Akebia Therapeutics in the 1st quarter valued at $158,000. Sun Life Financial INC acquired a new position in Akebia Therapeutics in the 2nd quarter valued at $193,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Akebia Therapeutics in the 1st quarter valued at $201,000. Institutional investors and hedge funds own 75.18% of the company’s stock.
Shares of NASDAQ AKBA opened at $7.95 on Friday. Akebia Therapeutics Inc has a fifty-two week low of $7.42 and a fifty-two week high of $20.25.
Several equities analysts have weighed in on AKBA shares. Zacks Investment Research raised Akebia Therapeutics from a “sell” rating to a “hold” rating and set a $12.00 price objective for the company in a report on Monday, May 14th. ValuEngine raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 1st. HC Wainwright dropped their price objective on Akebia Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, June 6th. BidaskClub cut Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Akebia Therapeutics in a report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock 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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