Akebia Therapeutics (NASDAQ:AKBA) Shares Cross Below 200-Day Moving Average of $1.34

Akebia Therapeutics, Inc. (NASDAQ:AKBA) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.34 and traded as low as $1.30. Akebia Therapeutics shares last traded at $1.34, with a volume of 2,472,952 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AKBA shares. StockNews.com upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. HC Wainwright raised their target price on Akebia Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, March 28th.

Akebia Therapeutics Stock Performance

The stock has a 50-day moving average of $1.58 and a 200 day moving average of $1.34.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $56.20 million for the quarter, compared to analysts’ expectations of $55.64 million. During the same quarter in the previous year, the business posted ($0.04) EPS. As a group, analysts forecast that Akebia Therapeutics, Inc. will post -0.28 EPS for the current year.

Insider Buying and Selling

In related news, CEO John P. Butler sold 46,489 shares of Akebia Therapeutics stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total transaction of $78,101.52. Following the transaction, the chief executive officer now owns 2,128,883 shares in the company, valued at $3,576,523.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Akebia Therapeutics news, SVP Steven Keith Burke sold 24,311 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total transaction of $40,842.48. Following the completion of the sale, the senior vice president now owns 711,376 shares of the company’s stock, valued at $1,195,111.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John P. Butler sold 46,489 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1.68, for a total value of $78,101.52. Following the sale, the chief executive officer now directly owns 2,128,883 shares of the company’s stock, valued at approximately $3,576,523.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,893 shares of company stock worth $300,598. 3.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Akebia Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its stake in Akebia Therapeutics by 37.6% during the fourth quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 6,330 shares during the last quarter. Raymond James & Associates grew its stake in shares of Akebia Therapeutics by 48.0% in the fourth quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 9,696 shares in the last quarter. Archer Investment Corp acquired a new stake in shares of Akebia Therapeutics in the fourth quarter valued at $25,000. Orchard Capital Management LLC grew its stake in shares of Akebia Therapeutics by 29.9% in the fourth quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 20,000 shares in the last quarter. Finally, Eagle Wealth Strategies LLC acquired a new stake in shares of Akebia Therapeutics in the fourth quarter valued at $25,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

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.