Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Rating) by 17.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 471,681 shares of the biopharmaceutical company's stock after purchasing an additional 69,265 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Akebia Therapeutics were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Swiss National Bank raised its position in shares of Akebia Therapeutics by 8.5% during the 4th quarter. Swiss National Bank now owns 364,785 shares of the biopharmaceutical company's stock valued at $824,000 after buying an additional 28,700 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Akebia Therapeutics during the 1st quarter valued at about $75,000. Rice Hall James & Associates LLC raised its position in shares of Akebia Therapeutics by 5.6% during the 1st quarter. Rice Hall James & Associates LLC now owns 513,292 shares of the biopharmaceutical company's stock valued at $368,000 after buying an additional 27,072 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Akebia Therapeutics during the 1st quarter valued at about $39,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Akebia Therapeutics during the 4th quarter valued at about $30,000. Institutional investors own 31.56% of the company's stock.
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Akebia Therapeutics Stock Performance
Akebia Therapeutics stock opened at $0.38 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.30 and a quick ratio of 1.15. Akebia Therapeutics, Inc. has a 1-year low of $0.30 and a 1-year high of $3.35. The firm has a market capitalization of $69.86 million, a P/E ratio of -0.40 and a beta of 1.50. The company's 50-day moving average is $0.40 and its 200 day moving average is $0.85.
Akebia Therapeutics (NASDAQ:AKBA – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.54. Akebia Therapeutics had a negative net
margin of 55.04% and a negative return on equity of 197.12%. The company had revenue of $126.76 million for the quarter, compared to analyst estimates of $49.10 million. During the same period in the prior year, the company posted ($0.51) EPS. Research analysts forecast that Akebia Therapeutics, Inc. will post -0.44 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on AKBA. StockNews.com began coverage on shares of Akebia Therapeutics in a research report on Sunday. They set a "hold" rating on the stock. HC Wainwright decreased their target price on shares of Akebia Therapeutics from $2.00 to $1.25 in a research report on Monday, May 16th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Akebia Therapeutics presently has an average rating of "Hold" and a consensus target price of $1.75.
Akebia Therapeutics Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Akebia Therapeutics (AKBA)
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