Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 13,400,000 shares, a growth of 32.3% from the March 15th total of 10,130,000 shares. Based on an average daily trading volume, of 4,530,000 shares, the days-to-cover ratio is presently 3.0 days.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on AKBA shares. StockNews.com lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. HC Wainwright increased their price objective on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, March 28th.
Get Our Latest Stock Report on Akebia Therapeutics
Insiders Place Their Bets
Institutional Trading of Akebia Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Eagle Wealth Strategies LLC purchased a new stake in shares of Akebia Therapeutics in the 4th quarter valued at approximately $25,000. Archer Investment Corp acquired a new stake in shares of Akebia Therapeutics in the fourth quarter worth $25,000. Mackenzie Financial Corp grew its holdings in shares of Akebia Therapeutics by 37.6% during the fourth quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 6,330 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Akebia Therapeutics by 123.7% during the second quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 50,066 shares during the period. Finally, Raymond James & Associates lifted its stake in Akebia Therapeutics by 48.0% in the 4th quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 9,696 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors.
Akebia Therapeutics Price Performance
Shares of NASDAQ AKBA opened at $1.46 on Friday. Akebia Therapeutics has a 1-year low of $0.59 and a 1-year high of $2.48. The firm has a market capitalization of $305.68 million, a PE ratio of -5.21 and a beta of 0.79. The business’s fifty day moving average price is $1.62 and its two-hundred day moving average price is $1.32.
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last announced its earnings results on Thursday, March 14th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The company had revenue of $56.20 million during the quarter, compared to the consensus estimate of $55.64 million. During the same quarter in the prior year, the company earned ($0.04) EPS. Equities research analysts expect that Akebia Therapeutics will post -0.28 earnings per share for the current fiscal year.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company's lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.
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