Achaogen (AKAO) Stock Price Down 12.4%

Achaogen Inc (NASDAQ:AKAO)’s share price dropped 12.4% during trading on Tuesday . The stock traded as low as $1.36 and last traded at $1.48. Approximately 1,767,867 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 2,875,493 shares. The stock had previously closed at $1.69.

AKAO has been the subject of several analyst reports. Stifel Nicolaus cut shares of Achaogen from a “buy” rating to a “hold” rating in a research report on Friday, November 9th. Gabelli cut shares of Achaogen from a “buy” rating to a “hold” rating in a research report on Friday, November 9th. Cowen cut shares of Achaogen from an “outperform” rating to a “market perform” rating in a research report on Friday, November 9th. ValuEngine cut shares of Achaogen from a “hold” rating to a “sell” rating in a research report on Monday, December 17th. Finally, HC Wainwright restated a “neutral” rating and issued a $3.00 target price (down from $19.00) on shares of Achaogen in a research report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.25.

The firm has a market cap of $77.94 million, a PE ratio of -0.47 and a beta of 0.83. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.52 and a current ratio of 2.54.

Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.08. The company had revenue of $2.00 million for the quarter, compared to analyst estimates of $3.80 million. Achaogen had a negative net margin of 2,045.86% and a negative return on equity of 214.74%. On average, equities analysts predict that Achaogen Inc will post -3.78 EPS for the current year.

In related news, major shareholder Robert W. Duggan purchased 22,431 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The shares were bought at an average cost of $1.40 per share, with a total value of $31,403.40. Following the acquisition, the insider now owns 8,443,961 shares of the company’s stock, valued at approximately $11,821,545.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Robert W. Duggan purchased 80,175 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were bought at an average cost of $1.89 per share, for a total transaction of $151,530.75. Following the completion of the acquisition, the insider now directly owns 8,343,945 shares in the company, valued at approximately $15,770,056.05. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,008,362 shares of company stock worth $1,677,078 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Granahan Investment Management Inc. MA bought a new stake in shares of Achaogen during the 2nd quarter valued at approximately $1,220,000. Point72 Asset Management L.P. bought a new stake in Achaogen during the 3rd quarter worth approximately $399,000. Gabelli Funds LLC grew its holdings in Achaogen by 48.7% during the 3rd quarter. Gabelli Funds LLC now owns 306,900 shares of the biopharmaceutical company’s stock worth $1,225,000 after acquiring an additional 100,500 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Achaogen by 2,745.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 294,768 shares of the biopharmaceutical company’s stock worth $1,176,000 after acquiring an additional 284,407 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in Achaogen during the 3rd quarter worth approximately $174,000. 45.59% of the stock is currently owned by institutional investors.

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About Achaogen (NASDAQ:AKAO)

Achaogen, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of antibacterial treatments for multi-drug resistant (MDR) gram-negative infections. It offers Plazomicin to treat bacterial illness, such as complicated urinary tract infection, blood stream infections, and other infections due to MDR Enterobacteriaceae.

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