Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Free Report) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 19,177,371 shares, a decline of 34.3% from the June 15th total of 29,201,925 shares. Based on an average daily volume of 7,120,957 shares, the days-to-cover ratio is currently 2.7 days. Approximately 7.5% of the company’s shares are short sold.
Insiders Place Their Bets
In related news, CFO Erik Ostrowski sold 56,019 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $1.11, for a total transaction of $62,181.09. Following the completion of the transaction, the chief financial officer directly owned 616,616 shares of the company’s stock, valued at $684,443.76. This trade represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.30% of the stock is owned by insiders.
Institutional Investors Weigh In On Akebia Therapeutics
Institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. boosted its holdings in Akebia Therapeutics by 23.0% during the 1st quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 4,000 shares during the last quarter. Legal & General Group Plc raised its stake in Akebia Therapeutics by 26.0% in the 2nd quarter. Legal & General Group Plc now owns 23,279 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 4,798 shares during the period. Polymer Capital Management US LLC raised its position in shares of Akebia Therapeutics by 49.5% in the third quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 6,034 shares during the period. Deutsche Bank AG raised its holdings in Akebia Therapeutics by 5.2% during the 4th quarter. Deutsche Bank AG now owns 164,655 shares of the biopharmaceutical company’s stock valued at $265,000 after acquiring an additional 8,103 shares during the period. Finally, Raymond James Financial Inc. grew its position in shares of Akebia Therapeutics by 16.8% in the second quarter. Raymond James Financial Inc. now owns 59,502 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 8,568 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on Akebia Therapeutics
Akebia Therapeutics Stock Performance
NASDAQ AKBA opened at $1.40 on Friday. The company has a market cap of $375.56 million, a P/E ratio of -17.50 and a beta of 0.23. The company has a fifty day simple moving average of $1.11 and a 200 day simple moving average of $1.29. The company has a current ratio of 1.40, a quick ratio of 1.33 and a debt-to-equity ratio of 1.33. Akebia Therapeutics has a 12-month low of $0.82 and a 12-month high of $4.04.
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Akebia Therapeutics had a negative return on equity of 62.72% and a negative net margin of 8.83%.The business had revenue of $53.54 million for the quarter, compared to analyst estimates of $51.67 million. Sell-side analysts predict that Akebia Therapeutics will post -0.1 earnings per share for the current fiscal year.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.
Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.
Featured Stories
- Five stocks we like better than Akebia Therapeutics
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for Akebia Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
