Robert W. Duggan Sells 2,354,007 Shares of Achaogen Inc (AKAO) Stock

Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan sold 2,354,007 shares of Achaogen stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $0.60, for a total transaction of $1,412,404.20. Following the completion of the sale, the insider now owns 8,667,207 shares in the company, valued at approximately $5,200,324.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NASDAQ:AKAO opened at $0.51 on Friday. The company has a current ratio of 2.54, a quick ratio of 2.52 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $38.43 million, a PE ratio of -0.16 and a beta of 0.84. Achaogen Inc has a twelve month low of $0.51 and a twelve month high of $15.00.

Several analysts have recently issued reports on AKAO shares. Zacks Investment Research upgraded shares of Achaogen from a “hold” rating to a “buy” rating and set a $1.00 target price on the stock in a research report on Tuesday, February 26th. HC Wainwright reiterated a “hold” rating and issued a $2.00 target price on shares of Achaogen in a research report on Thursday, February 21st. Mizuho reiterated a “hold” rating and issued a $3.00 target price on shares of Achaogen in a research report on Friday, February 15th. Finally, ValuEngine upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Achaogen has an average rating of “Hold” and an average price target of $8.17.

Large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Achaogen by 42.9% in the fourth quarter. Rhumbline Advisers now owns 41,268 shares of the biopharmaceutical company’s stock worth $51,000 after buying an additional 12,383 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Achaogen in the third quarter worth about $174,000. Bank of Nova Scotia lifted its stake in shares of Achaogen by 900.0% in the fourth quarter. Bank of Nova Scotia now owns 50,000 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 45,000 shares in the last quarter. First Midwest Bank Trust Division purchased a new position in shares of Achaogen in the fourth quarter worth about $69,000. Finally, Jefferies Group LLC purchased a new position in shares of Achaogen in the third quarter worth about $275,000. 42.20% of the stock is currently owned by hedge funds and other institutional investors.

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About Achaogen

Achaogen, Inc, a late-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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