Stanley Laman Group Ltd. bought a new position in shares of Achaogen Inc (NASDAQ:AKAO) during the 4th quarter, HoldingsChannel reports. The fund bought 69,889 shares of the biopharmaceutical company’s stock, valued at approximately $751,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC acquired a new stake in shares of Achaogen during the 4th quarter worth $177,000. Tower Research Capital LLC TRC raised its position in Achaogen by 375.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,648 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 14,725 shares during the last quarter. JPMorgan Chase & Co. raised its position in Achaogen by 691.2% in the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 9,677 shares during the last quarter. California Public Employees Retirement System bought a new position in Achaogen in the second quarter valued at about $243,000. Finally, Voya Investment Management LLC bought a new position in Achaogen in the second quarter valued at about $295,000. 90.49% of the stock is currently owned by institutional investors.
In other Achaogen news, major shareholder Robert W. Duggan bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average price of $10.96 per share, with a total value of $109,600.00. Following the completion of the purchase, the insider now directly owns 5,668,310 shares of the company’s stock, valued at approximately $62,124,677.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Robert W. Duggan bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were acquired at an average cost of $10.89 per share, with a total value of $163,350.00. Following the purchase, the insider now directly owns 5,617,752 shares of the company’s stock, valued at $61,177,319.28. The disclosure for this purchase can be found here. Insiders have purchased 170,012 shares of company stock valued at $1,905,934 in the last ninety days. 8.36% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on AKAO shares. Mizuho restated a “buy” rating and set a $28.00 price objective on shares of Achaogen in a research report on Monday, October 30th. HC Wainwright raised their price objective on Achaogen from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Zacks Investment Research downgraded Achaogen from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Guggenheim started coverage on Achaogen in a research report on Tuesday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. Finally, ValuEngine upgraded Achaogen from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $25.62.
Shares of Achaogen Inc (AKAO) opened at $10.92 on Tuesday. Achaogen Inc has a one year low of $9.83 and a one year high of $27.79. The company has a market capitalization of $462.94, a P/E ratio of -3.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99.
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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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