Point72 Asset Management L.P. boosted its holdings in Akebia Therapeutics Inc (NASDAQ:AKBA) by 33.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,358,100 shares of the biopharmaceutical company’s stock after purchasing an additional 585,800 shares during the period. Point72 Asset Management L.P. owned approximately 1.98% of Akebia Therapeutics worth $14,903,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of Akebia Therapeutics during the fourth quarter valued at about $27,000. Advisory Services Network LLC bought a new position in Akebia Therapeutics during the 4th quarter worth approximately $27,000. Great West Life Assurance Co. Can bought a new position in Akebia Therapeutics during the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. increased its stake in Akebia Therapeutics by 230.8% in the 4th quarter. Meeder Asset Management Inc. now owns 4,741 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 3,308 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in Akebia Therapeutics in the 3rd quarter worth approximately $30,000. 64.44% of the stock is owned by institutional investors and hedge funds.
In other Akebia Therapeutics news, CFO Jason Amello sold 6,976 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $8.70, for a total value of $60,691.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nicole R. Hadas sold 7,050 shares of Akebia Therapeutics stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $8.70, for a total value of $61,335.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,998 shares of company stock worth $182,683. 2.66% of the stock is currently owned by company insiders.
Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Tuesday, March 10th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.32). Akebia Therapeutics had a negative net margin of 83.48% and a negative return on equity of 39.65%. The business had revenue of $69.56 million for the quarter, compared to analysts’ expectations of $95.40 million. Sell-side analysts forecast that Akebia Therapeutics Inc will post -1.69 EPS for the current year.
A number of research firms have recently weighed in on AKBA. Zacks Investment Research raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. BidaskClub lowered shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, March 10th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Akebia Therapeutics in a research report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Akebia Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $14.75.
About Akebia Therapeutics
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. Its lead product candidate includes Auryxia, a ferric citrate to control the serum phosphorus levels in adult patients with chronic kidney disease (CKD), on dialysis (DD)-CKD, or the hyperphosphatemia indication (HIF); and vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to CKD in DD and non-dialysis patients.
Featured Story: Moving Average (MA)
Want to see what other hedge funds are holding AKBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akebia Therapeutics Inc (NASDAQ:AKBA).
Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.