Cannon Global Investment Management LLC purchased a new position in Akebia Therapeutics, Inc. (NASDAQ:AKBA – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 28,000 shares of the biopharmaceutical company’s stock, valued at approximately $51,000.
Several other hedge funds have also recently made changes to their positions in AKBA. Eagle Wealth Strategies LLC purchased a new position in shares of Akebia Therapeutics during the fourth quarter valued at approximately $25,000. Archer Investment Corp purchased a new position in shares of Akebia Therapeutics during the fourth quarter valued at approximately $25,000. Mackenzie Financial Corp increased its stake 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 during the period. Raymond James & Associates increased its stake in shares of Akebia Therapeutics by 48.0% during 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 during the period. Finally, Orchard Capital Management LLC boosted its position in shares of Akebia Therapeutics by 29.9% during the fourth quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 20,000 shares in the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.
Akebia Therapeutics Stock Performance
Shares of NASDAQ AKBA traded up $0.03 during mid-day trading on Friday, hitting $1.02. 25,512,146 shares of the stock traded hands, compared to its average volume of 2,734,414. Akebia Therapeutics, Inc. has a 52 week low of $0.78 and a 52 week high of $2.48. The company has a market cap of $213.79 million, a price-to-earnings ratio of -4.43 and a beta of 0.80. The stock has a fifty day moving average price of $1.15 and a 200-day moving average price of $1.39.
Analyst Ratings Changes
AKBA has been the topic of several research reports. HC Wainwright lifted their price target on Akebia Therapeutics from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. StockNews.com lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, April 29th.
View Our Latest Stock Analysis on AKBA
About Akebia Therapeutics
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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