Bank of New York Mellon Corp lifted its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 36.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 199,818 shares of the biopharmaceutical company’s stock after acquiring an additional 53,012 shares during the period. Bank of New York Mellon Corp owned approximately 1.09% of Akebia Therapeutics worth $2,872,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Akebia Therapeutics during the 2nd quarter worth $132,000. Hartwell J M Limited Partnership bought a new stake in shares of Akebia Therapeutics during the 2nd quarter worth $144,000. Creative Planning lifted its holdings in shares of Akebia Therapeutics by 2.9% during the 2nd quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 300 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Akebia Therapeutics during the 2nd quarter worth $270,000. Finally, American International Group Inc. lifted its holdings in shares of Akebia Therapeutics by 7.1% during the 1st quarter. American International Group Inc. now owns 22,121 shares of the biopharmaceutical company’s stock worth $204,000 after acquiring an additional 1,460 shares during the last quarter. 57.62% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Akebia Therapeutics in a report on Wednesday, October 4th. They set a “buy” rating and a $24.00 price objective for the company. Zacks Investment Research downgraded shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada assumed coverage on shares of Akebia Therapeutics in a report on Thursday, September 14th. They set a “sector perform” rating and a $17.00 price objective for the company. ValuEngine raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Akebia Therapeutics currently has an average rating of “Buy” and a consensus target price of $22.00.
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Shares of Akebia Therapeutics, Inc. (NASDAQ AKBA) opened at 18.94 on Wednesday. Akebia Therapeutics, Inc. has a 1-year low of $7.16 and a 1-year high of $20.25. The company’s market capitalization is $346.60 million. The firm has a 50-day moving average of $17.53 and a 200 day moving average of $14.11.
Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.36. The business had revenue of $28.52 million during the quarter, compared to analysts’ expectations of $26.50 million. On average, analysts anticipate that Akebia Therapeutics, Inc. will post ($2.64) EPS for the current year.
In other Akebia Therapeutics news, SVP Michel Dahan sold 5,000 shares of Akebia Therapeutics stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $19.30, for a total value of $96,500.00. Following the completion of the transaction, the senior vice president now directly owns 97,224 shares of the company’s stock, valued at approximately $1,876,423.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 12,586 shares of company stock valued at $222,289 over the last three months. Corporate insiders own 8.67% 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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