Perceptive Advisors LLC raised its position in shares of Akebia Therapeutics Inc (NASDAQ:AKBA) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,987,400 shares of the biopharmaceutical company’s stock after acquiring an additional 357,400 shares during the period. Akebia Therapeutics makes up 1.0% of Perceptive Advisors LLC’s portfolio, making the stock its 26th biggest position. Perceptive Advisors LLC owned about 4.20% of Akebia Therapeutics worth $29,553,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its position in Akebia Therapeutics by 15.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 238,333 shares of the biopharmaceutical company’s stock valued at $4,689,000 after acquiring an additional 31,857 shares during the period. Russell Investments Group Ltd. grew its position in Akebia Therapeutics by 10.8% during the third quarter. Russell Investments Group Ltd. now owns 77,640 shares of the biopharmaceutical company’s stock valued at $1,527,000 after acquiring an additional 7,571 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Akebia Therapeutics during the third quarter valued at about $415,000. Northern Trust Corp grew its position in Akebia Therapeutics by 15.1% during the second quarter. Northern Trust Corp now owns 424,093 shares of the biopharmaceutical company’s stock valued at $6,094,000 after acquiring an additional 55,763 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Akebia Therapeutics during the fourth quarter valued at about $410,000. 71.23% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on AKBA shares. ValuEngine downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Mizuho set a $24.00 target price on Akebia Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, March 7th. BTIG Research started coverage on Akebia Therapeutics in a research report on Thursday, December 7th. They issued a “buy” rating and a $30.00 target price for the company. Zacks Investment Research raised Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Monday, November 13th. Finally, BidaskClub downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $22.20.
COPYRIGHT VIOLATION WARNING: “Perceptive Advisors LLC Boosts Holdings in Akebia Therapeutics Inc (AKBA)” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/03/12/perceptive-advisors-llc-boosts-holdings-in-akebia-therapeutics-inc-akba.html.
Akebia Therapeutics Profile
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).
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.