Dimensional Fund Advisors LP trimmed its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA – Free Report) by 41.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 921,923 shares of the biopharmaceutical company’s stock after selling 649,089 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Akebia Therapeutics were worth $1,280,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Akebia Therapeutics by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 15,547,508 shares of the biopharmaceutical company’s stock worth $42,445,000 after acquiring an additional 936,042 shares during the period. State Street Corp increased its holdings in shares of Akebia Therapeutics by 15.6% in the fourth quarter. State Street Corp now owns 13,687,561 shares of the biopharmaceutical company’s stock valued at $22,037,000 after purchasing an additional 1,842,792 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Akebia Therapeutics by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 6,277,177 shares of the biopharmaceutical company’s stock valued at $10,108,000 after purchasing an additional 92,226 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Akebia Therapeutics by 166.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,706,437 shares of the biopharmaceutical company’s stock valued at $7,577,000 after purchasing an additional 2,938,624 shares during the period. Finally, UBS Group AG raised its position in shares of Akebia Therapeutics by 470.2% in the third quarter. UBS Group AG now owns 3,646,233 shares of the biopharmaceutical company’s stock valued at $9,954,000 after purchasing an additional 3,006,771 shares during the period. Institutional investors own 33.92% of the company’s stock.
Insider Buying and Selling
In other Akebia Therapeutics news, CFO Erik Ostrowski sold 56,019 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $1.11, for a total transaction of $62,181.09. Following the sale, the chief financial officer owned 616,616 shares of the company’s stock, valued at approximately $684,443.76. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 4.30% of the company’s stock.
Akebia Therapeutics Stock Up 1.7%
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Akebia Therapeutics had a negative net margin of 13.54% and a negative return on equity of 88.88%. The company had revenue of $49.13 million for the quarter, compared to analyst estimates of $48.85 million. Equities analysts predict that Akebia Therapeutics, Inc. will post -0.13 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently commented on AKBA. Zacks Research raised shares of Akebia Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Leerink Partners downgraded shares of Akebia Therapeutics from an “outperform” rating to a “market perform” rating and set a $1.00 price objective for the company. in a research report on Friday, August 7th. HC Wainwright restated a “buy” rating on shares of Akebia Therapeutics in a report on Thursday, August 6th. Wall Street Zen downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Akebia Therapeutics in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.75.
Read Our Latest Report on Akebia Therapeutics
About Akebia Therapeutics
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.
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