Achaogen Inc (NASDAQ:AKAO) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 8,481,348 shares, a drop of 13.6% from the September 28th total of 9,812,829 shares. Based on an average trading volume of 701,377 shares, the days-to-cover ratio is currently 12.1 days. Currently, 33.9% of the company’s shares are sold short.

A number of hedge funds have recently bought and sold shares of AKAO. Schwab Charles Investment Management Inc. lifted its stake in Achaogen by 16.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 160,830 shares of the biopharmaceutical company’s stock worth $2,083,000 after purchasing an additional 23,114 shares during the last quarter. BlackRock Inc. lifted its stake in Achaogen by 2.1% during the first quarter. BlackRock Inc. now owns 2,898,459 shares of the biopharmaceutical company’s stock worth $37,536,000 after purchasing an additional 60,613 shares during the last quarter. Stifel Financial Corp purchased a new stake in Achaogen during the first quarter worth approximately $134,000. Allianz Asset Management GmbH lifted its stake in Achaogen by 81.8% during the first quarter. Allianz Asset Management GmbH now owns 92,781 shares of the biopharmaceutical company’s stock worth $1,202,000 after purchasing an additional 41,746 shares during the last quarter. Finally, UBS Group AG lifted its stake in Achaogen by 681.5% during the first quarter. UBS Group AG now owns 297,632 shares of the biopharmaceutical company’s stock worth $3,854,000 after purchasing an additional 259,546 shares during the last quarter. Hedge funds and other institutional investors own 60.46% of the company’s stock.

Several equities analysts have recently issued reports on the company. ValuEngine cut Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. SunTrust Banks decreased their price objective on Achaogen from $16.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Needham & Company LLC cut Achaogen from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Finally, lifted their price objective on Achaogen to $2.54 and gave the company a “sell” rating in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Achaogen currently has a consensus rating of “Hold” and an average price target of $17.03.

Shares of AKAO opened at $4.09 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.79 and a quick ratio of 3.79. The stock has a market capitalization of $184.90 million, a PE ratio of -1.29 and a beta of 0.70. Achaogen has a 1 year low of $3.31 and a 1 year high of $15.00.

Achaogen (NASDAQ:AKAO) last announced its quarterly earnings data on Monday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.19). The company had revenue of $2.56 million during the quarter, compared to analysts’ expectations of $1.49 million. Achaogen had a negative net margin of 2,286.21% and a negative return on equity of 146.50%. As a group, sell-side analysts expect that Achaogen will post -3.78 EPS for the current year.

About Achaogen

Achaogen, Inc, a late-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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