Creative Planning increased its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 10,650 shares of the biopharmaceutical company’s stock after buying an additional 300 shares during the period. Creative Planning’s holdings in Akebia Therapeutics were worth $153,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Eagle Asset Management Inc. increased its position in Akebia Therapeutics by 1.5% in the first quarter. Eagle Asset Management Inc. now owns 3,550,547 shares of the biopharmaceutical company’s stock valued at $32,665,000 after buying an additional 51,190 shares during the last quarter. First Manhattan Co. increased its position in Akebia Therapeutics by 64.2% in the first quarter. First Manhattan Co. now owns 1,705,300 shares of the biopharmaceutical company’s stock valued at $15,432,000 after buying an additional 666,800 shares during the last quarter. Vanguard Group Inc. increased its position in Akebia Therapeutics by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,301,880 shares of the biopharmaceutical company’s stock valued at $11,977,000 after buying an additional 105,645 shares during the last quarter. Morgan Stanley increased its position in Akebia Therapeutics by 6.8% in the first quarter. Morgan Stanley now owns 870,442 shares of the biopharmaceutical company’s stock valued at $8,008,000 after buying an additional 55,369 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new position in Akebia Therapeutics during the first quarter valued at about $6,232,000. 48.15% of the stock is currently owned by institutional investors and hedge funds.
Akebia Therapeutics, Inc. (NASDAQ:AKBA) traded up 5.00% during trading on Friday, hitting $14.27. 172,053 shares of the stock traded hands. Akebia Therapeutics, Inc. has a 52-week low of $7.16 and a 52-week high of $16.54. The stock’s market cap is $261.14 million. The company’s 50 day moving average price is $14.13 and its 200-day moving average price is $11.83.
Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.36. The company had revenue of $28.52 million for the quarter, compared to analysts’ expectations of $26.50 million. Equities research analysts forecast that Akebia Therapeutics, Inc. will post ($3.13) earnings per share for the current fiscal year.
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AKBA has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Aegis reaffirmed a “buy” rating and set a $25.00 price objective on shares of Akebia Therapeutics in a report on Thursday, May 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective (up from $14.00) on shares of Akebia Therapeutics in a report on Thursday, April 27th. ValuEngine raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, HC Wainwright decreased their price objective on shares of Akebia Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.71.
In related news, Director Muneer A. Satter acquired 1,034,482 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were acquired at an average cost of $14.50 per share, for a total transaction of $14,999,989.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.95% of the company’s stock.
Akebia Therapeutics Company 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).
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