Akebia Therapeutics (NASDAQ:AKBA) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research note on Thursday, January 23rd.

Akebia Therapeutics Stock Performance

Shares of Akebia Therapeutics stock opened at $1.91 on Tuesday. Akebia Therapeutics has a 52 week low of $0.80 and a 52 week high of $2.48. The stock has a 50 day moving average price of $2.02 and a two-hundred day moving average price of $1.73. The stock has a market capitalization of $415.63 million, a PE ratio of -8.28 and a beta of 0.74.

Insider Activity

In related news, SVP Steven Keith Burke sold 50,506 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $106,062.60. Following the transaction, the senior vice president now directly owns 816,234 shares in the company, valued at approximately $1,714,091.40. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John P. Butler sold 144,250 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $302,925.00. Following the completion of the sale, the chief executive officer now owns 2,604,330 shares of the company’s stock, valued at approximately $5,469,093. This trade represents a 5.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 280,579 shares of company stock worth $589,216 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp boosted its holdings in shares of Akebia Therapeutics by 930.4% in the 4th quarter. Mackenzie Financial Corp now owns 135,392 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 122,252 shares during the last quarter. Rafferty Asset Management LLC bought a new position in Akebia Therapeutics during the fourth quarter valued at $342,000. ProShare Advisors LLC raised its stake in shares of Akebia Therapeutics by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 58,585 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 19,277 shares during the period. Millennium Management LLC lifted its position in shares of Akebia Therapeutics by 738.0% during the 4th quarter. Millennium Management LLC now owns 169,647 shares of the biopharmaceutical company’s stock valued at $322,000 after buying an additional 149,402 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Akebia Therapeutics by 10.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 12,232 shares during the last quarter. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Company Profile

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 Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.