Cubist Systematic Strategies LLC Purchases New Position in Akcea Therapeutics Inc (AKCA)

Cubist Systematic Strategies LLC purchased a new stake in Akcea Therapeutics Inc (NASDAQ:AKCA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,728 shares of the company’s stock, valued at approximately $269,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AKCA. Legal & General Group Plc bought a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $111,000. Strs Ohio bought a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $180,000. Nationwide Fund Advisors bought a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $209,000. Finally, Wells Fargo & Company MN bought a new position in shares of Akcea Therapeutics in the 3rd quarter valued at $222,000. Institutional investors own 26.04% of the company’s stock.

Several research analysts recently issued reports on AKCA shares. Zacks Investment Research lowered Akcea Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cowen reaffirmed a “buy” rating on shares of Akcea Therapeutics in a research report on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price (up from $19.00) on shares of Akcea Therapeutics in a research report on Tuesday, November 7th. Finally, BidaskClub lowered Akcea Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, December 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.75.

Akcea Therapeutics Inc (NASDAQ:AKCA) opened at $17.55 on Monday. The stock has a market capitalization of $1,170.00 and a price-to-earnings ratio of -4.45. Akcea Therapeutics Inc has a 12-month low of $8.10 and a 12-month high of $31.23.

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About Akcea Therapeutics

Akcea Therapeutics, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing drugs to treat patients with serious cardiometabolic diseases caused by lipid disorders. The Company’s drugs, volanesorsen, AKCEA-APO(a)-LRx, AKCEA-ANGPTL3-LRx and AKCEA-APOCIII-LRx, are all based on antisense technology developed by Ionis Pharmaceuticals, Inc (Ionis).

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Institutional Ownership by Quarter for Akcea Therapeutics (NASDAQ:AKCA)

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