Jacobs Levy Equity Management Inc. Has $2.69 Million Position in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Jacobs Levy Equity Management Inc. lowered its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,034,169 shares of the biopharmaceutical company’s stock after selling 60,564 shares during the period. Jacobs Levy Equity Management Inc. owned 0.93% of Akebia Therapeutics worth $2,685,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV grew its holdings in Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,037 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Akebia Therapeutics by 25.7% during the third quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 13,907 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Akebia Therapeutics by 205.8% during the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 31,137 shares during the last quarter. SG Americas Securities LLC acquired a new position in Akebia Therapeutics during the second quarter valued at approximately $34,000. Finally, Empirical Asset Management LLC acquired a new position in Akebia Therapeutics during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AKBA. StockNews.com upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.

Akebia Therapeutics Trading Up 1.5 %

AKBA opened at $2.05 on Friday. Akebia Therapeutics, Inc. has a 1-year low of $0.80 and a 1-year high of $2.48. The stock has a market capitalization of $447.27 million, a price-to-earnings ratio of -8.91 and a beta of 0.70. The business has a 50 day moving average of $1.69 and a 200-day moving average of $1.40.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same period last year, the company earned ($0.08) earnings per share. Equities analysts predict that Akebia Therapeutics, Inc. will post -0.24 EPS for the current year.

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.