Point72 Asset Management L.P. cut its position in shares of Achaogen, Inc. (NASDAQ:AKAO) by 13.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 570,971 shares of the biopharmaceutical company’s stock after selling 86,929 shares during the period. Point72 Asset Management L.P. owned approximately 1.60% of Achaogen worth $14,406,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AKAO. Bank of New York Mellon Corp increased its stake in Achaogen by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 113,783 shares of the biopharmaceutical company’s stock worth $2,871,000 after buying an additional 3,150 shares during the last quarter. First Midwest Bank Trust Division bought a new stake in Achaogen during the first quarter worth $436,000. Sigma Planning Corp bought a new stake in Achaogen during the first quarter worth $218,000. Hartwell J M Limited Partnership increased its stake in Achaogen by 21.2% in the first quarter. Hartwell J M Limited Partnership now owns 20,000 shares of the biopharmaceutical company’s stock worth $505,000 after buying an additional 3,500 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Achaogen during the first quarter worth $240,000. Institutional investors and hedge funds own 69.75% of the company’s stock.
Achaogen, Inc. (NASDAQ AKAO) opened at 24.04 on Tuesday. The stock’s 50 day moving average is $22.71 and its 200-day moving average is $20.86. The company’s market cap is $861.91 million. Achaogen, Inc. has a 52-week low of $3.36 and a 52-week high of $27.79.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by $0.39. Achaogen had a negative net margin of 212.71% and a negative return on equity of 119.78%. The company had revenue of $7.46 million for the quarter, compared to analysts’ expectations of $3.81 million. During the same quarter in the prior year, the firm earned ($0.66) EPS. Achaogen’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities research analysts predict that Achaogen, Inc. will post ($2.63) EPS for the current fiscal year.
A number of analysts recently weighed in on the company. Aegis downgraded Achaogen from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Thursday, March 30th. Cowen and Company reiterated an “outperform” rating on shares of Achaogen in a report on Friday, May 5th. Zacks Investment Research upgraded Achaogen from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub upgraded Achaogen from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $31.00 price target (up from $28.00) on shares of Achaogen in a report on Tuesday, May 9th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $25.58.
In related news, CFO Tobin Schilke sold 2,066 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $21.53, for a total transaction of $44,480.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.80% of the stock is owned by insiders.
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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