Steven Keith Burke Sells 50,506 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBAGet Free Report) SVP Steven Keith Burke sold 50,506 shares of Akebia Therapeutics stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $106,062.60. Following the transaction, the senior vice president now directly owns 816,234 shares in the company, valued at approximately $1,714,091.40. This trade represents a 5.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Akebia Therapeutics Trading Up 0.9 %

Shares of NASDAQ:AKBA traded up $0.02 on Tuesday, hitting $2.14. The company had a trading volume of 1,343,441 shares, compared to its average volume of 2,507,634. Akebia Therapeutics, Inc. has a 52-week low of $0.80 and a 52-week high of $2.48. The business has a 50 day moving average of $2.00 and a 200 day moving average of $1.67. The company has a market cap of $466.91 million, a PE ratio of -9.30 and a beta of 0.74.

Akebia Therapeutics (NASDAQ:AKBAGet Free Report) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the prior year, the firm earned ($0.08) EPS. As a group, equities analysts predict that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

AKBA has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research note on Thursday, January 23rd. StockNews.com downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th.

Read Our Latest Report on AKBA

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Akebia Therapeutics by 276.1% during the third quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 200,482 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Akebia Therapeutics in the third quarter worth about $534,000. BNP Paribas Financial Markets boosted its position in shares of Akebia Therapeutics by 205.8% in the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 31,137 shares during the period. XTX Topco Ltd purchased a new stake in shares of Akebia Therapeutics in the third quarter worth about $58,000. Finally, State Street Corp boosted its position in shares of Akebia Therapeutics by 24.9% in the third quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after buying an additional 683,287 shares during the period. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

(Get Free Report)

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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