Akebia Therapeutics (NASDAQ:AKBA) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Akebia Therapeutics (NASDAQ:AKBAGet Rating) in a research report issued on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Akebia Therapeutics Price Performance

Shares of NASDAQ AKBA opened at $0.26 on Wednesday. The company has a market cap of $48.09 million, a P/E ratio of -0.30 and a beta of 1.35. Akebia Therapeutics has a 1 year low of $0.24 and a 1 year high of $2.93. The firm has a 50-day simple moving average of $0.29 and a two-hundred day simple moving average of $0.35.

Hedge Funds Weigh In On Akebia Therapeutics

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Akebia Therapeutics by 8.8% in the first quarter. Vanguard Group Inc. now owns 14,402,988 shares of the biopharmaceutical company’s stock worth $10,339,000 after purchasing an additional 1,167,319 shares during the last quarter. Millennium Management LLC increased its holdings in Akebia Therapeutics by 65.8% in the second quarter. Millennium Management LLC now owns 5,354,175 shares of the biopharmaceutical company’s stock valued at $1,891,000 after buying an additional 2,124,161 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Akebia Therapeutics by 103.5% during the third quarter. Renaissance Technologies LLC now owns 3,016,427 shares of the biopharmaceutical company’s stock worth $954,000 after purchasing an additional 1,534,127 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Akebia Therapeutics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,666,861 shares of the biopharmaceutical company’s stock worth $1,915,000 after purchasing an additional 73,020 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Akebia Therapeutics by 162.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,042,816 shares of the biopharmaceutical company’s stock worth $646,000 after purchasing an additional 1,265,199 shares in the last quarter. 31.56% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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