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

Akebia Therapeutics, Inc. (NASDAQ:AKBA) SVP Steven Keith Burke sold 50,506 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $106,062.60. Following the transaction, the senior vice president now directly owns 816,234 shares of the company’s stock, valued at approximately $1,714,091.40. This trade represents a 5.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Akebia Therapeutics Stock Performance

Shares of AKBA opened at $2.16 on Friday. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.48. The stock’s fifty day moving average is $2.00 and its 200-day moving average is $1.68. The firm has a market capitalization of $471.27 million, a price-to-earnings ratio of -9.39 and a beta of 0.74.

Akebia Therapeutics (NASDAQ:AKBA) 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 business had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same quarter last year, the firm posted ($0.08) earnings per share. Analysts forecast that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in Akebia Therapeutics by 276.1% in the third quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 200,482 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Akebia Therapeutics in the third quarter valued at $534,000. BNP Paribas Financial Markets boosted its stake 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 buying an additional 31,137 shares in the last quarter. XTX Topco Ltd bought a new position in Akebia Therapeutics during the third quarter valued at about $58,000. Finally, State Street Corp grew its holdings in Akebia Therapeutics by 24.9% during the third quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after acquiring an additional 683,287 shares during the period. Institutional investors and hedge funds own 33.92% of the company’s stock.

Wall Street Analysts Forecast Growth

AKBA has been the subject of a number of analyst reports. StockNews.com lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Thursday, January 23rd.

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.