Akebia Therapeutics, Inc. (AKBA) Director Duane Nash Sells 1,188 Shares
Akebia Therapeutics, Inc. (NASDAQ:AKBA) Director Duane Nash sold 1,188 shares of Akebia Therapeutics stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $19.64, for a total value of $23,332.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Akebia Therapeutics, Inc. (NASDAQ AKBA) traded down 0.52% during mid-day trading on Wednesday, reaching $19.23. The company had a trading volume of 297,370 shares. The stock’s market cap is $351.91 million. Akebia Therapeutics, Inc. has a 12 month low of $7.16 and a 12 month high of $20.25. The firm’s 50-day moving average price is $16.97 and its 200-day moving average price is $13.75.
Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million for the quarter, compared to the consensus estimate of $26.50 million. Equities research analysts forecast that Akebia Therapeutics, Inc. will post ($2.57) EPS for the current fiscal year.
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A number of brokerages have recently weighed in on AKBA. Mizuho began coverage on Akebia Therapeutics in a report on Wednesday. They set a “buy” rating on the stock. Zacks Investment Research upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, August 14th. HC Wainwright reiterated a “buy” rating and set a $24.00 price target on shares of Akebia Therapeutics in a report on Wednesday, August 9th. Aegis reiterated a “buy” rating on shares of Akebia Therapeutics in a report on Friday, June 30th. Finally, ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.71.
A number of hedge funds have recently added to or reduced their stakes in AKBA. RA Capital Management LLC bought a new position in Akebia Therapeutics during the 2nd quarter worth about $12,018,000. Farallon Capital Management LLC bought a new position in Akebia Therapeutics during the 2nd quarter worth about $10,490,000. Marshall Wace North America L.P. bought a new position in Akebia Therapeutics during the 1st quarter worth about $6,232,000. MARSHALL WACE ASIA Ltd bought a new position in Akebia Therapeutics during the 1st quarter worth about $6,232,000. Finally, Renaissance Technologies LLC increased its holdings in Akebia Therapeutics by 165.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,025,300 shares of the biopharmaceutical company’s stock worth $14,734,000 after purchasing an additional 639,033 shares in the last quarter. Hedge funds and other institutional investors own 57.62% of the company’s stock.
About Akebia Therapeutics
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).
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