Akebia Therapeutics, Inc. (NASDAQ:AKBA) Short Interest Update

Akebia Therapeutics, Inc. (NASDAQ:AKBA) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 16,680,000 shares, an increase of 18.6% from the December 31st total of 14,070,000 shares. Based on an average daily trading volume, of 2,100,000 shares, the short-interest ratio is presently 7.9 days.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock opened at $2.30 on Friday. Akebia Therapeutics has a 52 week low of $0.80 and a 52 week high of $2.48. The stock has a market capitalization of $501.81 million, a P/E ratio of -10.00 and a beta of 0.72. The stock has a fifty day moving average of $1.98 and a 200-day moving average of $1.65.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same period last year, the firm posted ($0.08) earnings per share. On average, research analysts forecast that Akebia Therapeutics will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

AKBA has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $7.50 target price on shares of Akebia Therapeutics in a report on Thursday, January 23rd. StockNews.com cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th.

Hedge Funds Weigh In On Akebia Therapeutics

Several large investors have recently modified their holdings of AKBA. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the 3rd quarter worth about $44,000. B. Riley Wealth Advisors Inc. bought a new stake in Akebia Therapeutics in the second quarter worth approximately $44,000. XTX Topco Ltd bought a new position in shares of Akebia Therapeutics during the 3rd quarter worth approximately $58,000. Intech Investment Management LLC acquired a new stake in shares of Akebia Therapeutics during the 3rd quarter worth approximately $59,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Akebia Therapeutics by 205.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 31,137 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.