StockNews.com Downgrades Akebia Therapeutics (NASDAQ:AKBA) to Sell

Akebia Therapeutics (NASDAQ:AKBA) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a report on Thursday, January 23rd.

Akebia Therapeutics Stock Down 4.6 %

AKBA opened at $1.98 on Tuesday. The company has a 50 day moving average of $2.02 and a two-hundred day moving average of $1.73. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48. The company has a market cap of $430.91 million, a P/E ratio of -8.59 and a beta of 0.74.

Insider Activity at Akebia Therapeutics

In related news, CAO Richard C. Malabre sold 30,202 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $63,424.20. Following the completion of the sale, the chief accounting officer now owns 280,248 shares in the company, valued at approximately $588,520.80. This represents a 9.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $106,062.60. Following the transaction, the senior vice president now owns 816,234 shares in the company, valued at approximately $1,714,091.40. The trade was a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,579 shares of company stock worth $589,216 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Akebia Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Effects LLC lifted its stake in Akebia Therapeutics by 18.5% in the 4th quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 5,000 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in Akebia Therapeutics by 8.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 98,618 shares of the biopharmaceutical company’s stock worth $187,000 after acquiring an additional 8,000 shares during the period. JPMorgan Chase & Co. boosted its position in Akebia Therapeutics by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 9,662 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Akebia Therapeutics by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 137,905 shares of the biopharmaceutical company’s stock worth $263,000 after acquiring an additional 11,257 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Akebia Therapeutics by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 12,232 shares during the period. Institutional investors and hedge funds own 33.92% of the company’s stock.

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.