Wealth Effects LLC Increases Stock Position in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Wealth Effects LLC grew its position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 18.5% in the fourth quarter, HoldingsChannel reports. The firm owned 32,000 shares of the biopharmaceutical company’s stock after buying an additional 5,000 shares during the quarter. Wealth Effects LLC’s holdings in Akebia Therapeutics were worth $61,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Barclays PLC raised its stake in Akebia Therapeutics by 276.1% during the third quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 200,482 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Akebia Therapeutics during the 3rd quarter valued at about $534,000. BNP Paribas Financial Markets raised its position in shares of 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 buying an additional 31,137 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Akebia Therapeutics in the 3rd quarter valued at about $58,000. Finally, State Street Corp grew its position in Akebia Therapeutics by 24.9% in 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 in the last quarter. 33.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. HC Wainwright restated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research report on Thursday, January 23rd.

Akebia Therapeutics Trading Down 0.4 %

AKBA stock opened at $2.29 on Wednesday. Akebia Therapeutics, Inc. has a 12 month low of $0.80 and a 12 month high of $2.48. The stock has a market cap of $499.63 million, a PE ratio of -9.96 and a beta of 0.72. The company has a 50-day moving average price of $1.97 and a 200 day moving average price of $1.64.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same quarter last year, the company posted ($0.08) earnings per share. Sell-side analysts forecast that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Akebia Therapeutics 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.