StockNews.com assumed coverage on shares of Akebia Therapeutics (NASDAQ:AKBA – Get Rating) in a report published on Saturday. The firm issued a hold rating on the biopharmaceutical company's stock.

Separately, HC Wainwright decreased their price target on Akebia Therapeutics from $2.00 to $1.25 in a research report on Monday, May 16th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $1.75.

Akebia Therapeutics Stock Down 2.3 %

NASDAQ AKBA opened at $0.37 on Friday. The firm has a market cap of $67.47 million, a PE ratio of -0.39 and a beta of 1.50. Akebia Therapeutics has a one year low of $0.30 and a one year high of $3.35. The stock's 50 day simple moving average is $0.40 and its 200 day simple moving average is $0.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.30 and a quick ratio of 1.15.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AKBA. Millennium Management LLC lifted its holdings in Akebia Therapeutics by 65.8% during the 2nd quarter. Millennium Management LLC now owns 5,354,175 shares of the biopharmaceutical company's stock worth $1,891,000 after buying an additional 2,124,161 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Akebia Therapeutics by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company's stock worth $10,339,000 after buying an additional 1,167,319 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Akebia Therapeutics by 367.4% during the 2nd quarter. AQR Capital Management LLC now owns 862,168 shares of the biopharmaceutical company's stock worth $304,000 after buying an additional 677,703 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Akebia Therapeutics by 23.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,593,841 shares of the biopharmaceutical company's stock worth $5,862,000 after buying an additional 498,078 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Akebia Therapeutics by 47.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,482,300 shares of the biopharmaceutical company's stock worth $523,000 after buying an additional 478,973 shares in the last quarter. Institutional investors and hedge funds own 55.34% of the company's stock.

About Akebia Therapeutics

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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 vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.

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