Akcea Therapeutics Target of Unusually High Options Trading (AKCA)

Akcea Therapeutics Inc (NASDAQ:AKCA) was the recipient of some unusual options trading on Monday. Stock traders bought 506 call options on the stock. This represents an increase of 644% compared to the average daily volume of 68 call options.

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Akcea Therapeutics by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 204,540 shares of the company’s stock worth $3,550,000 after acquiring an additional 3,147 shares during the last quarter. Legal & General Group Plc acquired a new stake in Akcea Therapeutics during the third quarter worth about $111,000. Ardsley Advisory Partners increased its stake in Akcea Therapeutics by 50.0% during the fourth quarter. Ardsley Advisory Partners now owns 15,000 shares of the company’s stock worth $260,000 after acquiring an additional 5,000 shares during the last quarter. Deutsche Bank AG increased its stake in Akcea Therapeutics by 17.4% during the fourth quarter. Deutsche Bank AG now owns 34,624 shares of the company’s stock worth $600,000 after acquiring an additional 5,134 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Akcea Therapeutics during the third quarter worth about $180,000. Institutional investors own 29.14% of the company’s stock.

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Shares of AKCA stock opened at $32.04 on Wednesday. Akcea Therapeutics has a 12 month low of $8.10 and a 12 month high of $32.95.

AKCA has been the subject of several analyst reports. BidaskClub upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Zacks Investment Research upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, January 2nd. Stifel Nicolaus upped their target price on Akcea Therapeutics from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 16th. Cowen lowered Akcea Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 27th. Finally, Wells Fargo lowered Akcea Therapeutics from an “outperform” rating to a “market perform” rating and set a $27.00 price target for the company. in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $24.75.

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Akcea Therapeutics Company Profile

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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