15,000 Shares in Akebia Therapeutics, Inc. (NASDAQ:AKBA) Purchased by PDS Planning Inc

PDS Planning Inc purchased a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AKBA. SRS Capital Advisors Inc. acquired a new position in Akebia Therapeutics during the 4th quarter valued at about $26,000. Cibc World Markets Corp acquired a new position in Akebia Therapeutics during the 4th quarter valued at about $37,000. XTX Topco Ltd acquired a new position in Akebia Therapeutics during the 3rd quarter valued at about $58,000. Intech Investment Management LLC acquired a new position in Akebia Therapeutics during the 3rd quarter valued at about $59,000. Finally, BNP Paribas Financial Markets lifted its position in Akebia Therapeutics by 205.8% during the 3rd 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 period. Institutional investors and hedge funds own 33.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AKBA. Piper Sandler upped their target price on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. HC Wainwright restated a “buy” rating and set a $7.50 target price on shares of Akebia Therapeutics in a research report on Friday, March 14th. Finally, StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday.

Insider Buying and Selling

In related news, insider Nicholas Grund sold 55,621 shares of the 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 $116,804.10. Following the completion of the sale, the insider now directly owns 442,579 shares of the company’s stock, valued at approximately $929,415.90. This represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard C. Malabre sold 30,202 shares of the 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 $63,424.20. Following the sale, the chief accounting officer now directly owns 280,248 shares of the company’s stock, valued at approximately $588,520.80. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 280,579 shares of company stock valued at $589,216. 4.10% of the stock is owned by corporate insiders.

Akebia Therapeutics Price Performance

Shares of AKBA stock opened at $2.84 on Thursday. The stock has a market cap of $619.63 million, a PE ratio of -12.35 and a beta of 0.94. The stock has a 50-day moving average of $2.07 and a 200-day moving average of $1.81. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.89.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $46.50 million during the quarter, compared to the consensus estimate of $37.36 million. As a group, research analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.

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.