Adams Diversified Equity Fund Inc. Invests $930,000 in Akebia Therapeutics, Inc. (AKBA)

Adams Diversified Equity Fund Inc. purchased a new position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 47,300 shares of the biopharmaceutical company’s stock, valued at approximately $930,000. Adams Diversified Equity Fund Inc. owned about 0.26% of Akebia Therapeutics at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AKBA. SG Americas Securities LLC bought a new stake in shares of Akebia Therapeutics in the second quarter worth $132,000. Legal & General Group Plc increased its stake in shares of Akebia Therapeutics by 8.0% in the second quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 714 shares during the last quarter. Hartwell J M Limited Partnership bought a new stake in shares of Akebia Therapeutics in the second quarter worth $144,000. Creative Planning increased its stake in shares of Akebia Therapeutics by 2.9% in the second quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 300 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Akebia Therapeutics in the second quarter worth $159,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

Akebia Therapeutics, Inc. (AKBA) traded down 1.32% during mid-day trading on Wednesday, reaching $17.91. 96,393 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $18.17 and its 200 day moving average price is $15.03. Akebia Therapeutics, Inc. has a 12 month low of $7.16 and a 12 month high of $20.25. The stock’s market capitalization is $327.75 million.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million during the quarter, compared to the consensus estimate of $26.50 million. Equities research analysts predict that Akebia Therapeutics, Inc. will post ($2.64) EPS for the current year.

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AKBA has been the subject of a number of research analyst reports. BidaskClub lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. ValuEngine upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada initiated coverage on shares of Akebia Therapeutics in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $17.00 price target for the company. Finally, Mizuho initiated coverage on shares of Akebia Therapeutics in a research note on Wednesday, October 4th. They issued a “buy” rating and a $24.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $22.00.

In other news, SVP Michel Dahan sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.30, for a total value of $96,500.00. Following the completion of the sale, the senior vice president now directly owns 97,224 shares in the company, valued at $1,876,423.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 12,586 shares of company stock valued at $222,289 over the last quarter. Corporate insiders own 8.67% of the company’s stock.

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).

Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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