Short Interest in Achaogen Inc (AKAO) Declines By 0.6%

Achaogen Inc (NASDAQ:AKAO) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 9,714,870 shares, a decrease of 0.6% from the November 15th total of 9,770,428 shares. Currently, 36.5% of the shares of the company are sold short. Based on an average trading volume of 855,667 shares, the days-to-cover ratio is presently 11.4 days.

Achaogen (NASDAQ AKAO) opened at $10.98 on Thursday. Achaogen has a 12-month low of $10.24 and a 12-month high of $27.79. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08.

Achaogen (NASDAQ:AKAO) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.13). The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $2.09 million. Achaogen had a negative return on equity of 72.31% and a negative net margin of 5,183.19%. The firm’s revenue for the quarter was down 96.4% compared to the same quarter last year. During the same period last year, the business earned ($0.41) earnings per share. research analysts predict that Achaogen will post -3.06 EPS for the current fiscal year.

AKAO has been the subject of several research reports. Mizuho reissued a “buy” rating and issued a $28.00 price objective on shares of Achaogen in a research report on Monday, October 30th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Achaogen in a research report on Thursday, November 9th. Zacks Investment Research raised Achaogen from a “sell” rating to a “hold” rating in a research report on Monday, December 11th. Stifel Nicolaus reduced their target price on Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Finally, Guggenheim assumed coverage on Achaogen in a research report on Tuesday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.78.

In other Achaogen news, major shareholder Robert W. Duggan acquired 95,012 shares of Achaogen stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $11.13 per share, with a total value of $1,057,483.56. Following the completion of the transaction, the insider now owns 5,602,752 shares of the company’s stock, valued at $62,358,629.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Blake Wise sold 3,576 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The disclosure for this sale can be found here. 8.36% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. lifted its position in Achaogen by 55.7% in the third quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock worth $35,982,000 after purchasing an additional 806,899 shares during the period. State Street Corp raised its stake in Achaogen by 302.6% during the second quarter. State Street Corp now owns 1,677,097 shares of the biopharmaceutical company’s stock worth $36,444,000 after acquiring an additional 1,260,509 shares in the last quarter. Vanguard Group Inc. raised its stake in Achaogen by 32.2% during the second quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock worth $30,641,000 after acquiring an additional 343,428 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Achaogen by 25.1% during the third quarter. TimesSquare Capital Management LLC now owns 1,361,665 shares of the biopharmaceutical company’s stock worth $21,719,000 after acquiring an additional 273,365 shares in the last quarter. Finally, Farallon Capital Management LLC raised its stake in Achaogen by 16.0% during the second quarter. Farallon Capital Management LLC now owns 948,500 shares of the biopharmaceutical company’s stock worth $20,611,000 after acquiring an additional 131,000 shares in the last quarter. 85.74% of the stock is owned by hedge funds and other institutional investors.

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About Achaogen

Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).

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