Akcea Therapeutics (AKCA) Sees Unusually-High Trading Volume

Akcea Therapeutics Inc (NASDAQ:AKCA) saw an uptick in trading volume on Friday . 1,257,031 shares changed hands during mid-day trading, an increase of 388% from the previous session’s volume of 257,808 shares.The stock last traded at $30.01 and had previously closed at $29.46.

AKCA has been the subject of a number of research analyst reports. Zacks Investment Research raised Akcea Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. ValuEngine raised Akcea Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Akcea Therapeutics has a consensus rating of “Hold” and a consensus price target of $38.20.

The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -10.46 and a beta of 1.71.

Akcea Therapeutics (NASDAQ:AKCA) last posted its quarterly earnings data on Tuesday, February 26th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.09). Akcea Therapeutics had a negative return on equity of 90.80% and a negative net margin of 348.13%. The company had revenue of $10.20 million for the quarter, compared to analyst estimates of $17.76 million. During the same period in the previous year, the business posted ($0.35) earnings per share. The firm’s revenue was down 53.0% compared to the same quarter last year. On average, equities analysts predict that Akcea Therapeutics Inc will post 0.06 EPS for the current fiscal year.

In other Akcea Therapeutics news, CEO Paula Soteropoulos sold 18,386 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $32.14, for a total transaction of $590,926.04. Following the completion of the sale, the chief executive officer now directly owns 18,386 shares of the company’s stock, valued at approximately $590,926.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.64% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AKCA. EcoR1 Capital LLC acquired a new stake in shares of Akcea Therapeutics in the 3rd quarter valued at approximately $26,444,000. FMR LLC lifted its holdings in shares of Akcea Therapeutics by 4.1% in the 4th quarter. FMR LLC now owns 13,381,506 shares of the company’s stock valued at $403,318,000 after buying an additional 523,834 shares during the period. BlackRock Inc. lifted its holdings in shares of Akcea Therapeutics by 6.0% in the 4th quarter. BlackRock Inc. now owns 2,011,429 shares of the company’s stock valued at $60,625,000 after buying an additional 113,784 shares during the period. Barclays PLC lifted its holdings in shares of Akcea Therapeutics by 106.7% in the 4th quarter. Barclays PLC now owns 6,400 shares of the company’s stock valued at $193,000 after buying an additional 102,219 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Akcea Therapeutics in the 4th quarter valued at approximately $2,245,000. 26.17% of the stock is owned by institutional investors and hedge funds.

WARNING: This article was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://www.wkrb13.com/2019/03/16/akcea-therapeutics-akca-sees-unusually-high-trading-volume.html.

About Akcea Therapeutics (NASDAQ:AKCA)

Akcea Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. It develops Volanesorsen, which has completed Phase 3 clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase 3 clinical study for the treatment of familial partial lipodystrophy.

Featured Article: Back-End Load

Receive News & Ratings for Akcea Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akcea Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.