Bank of New York Mellon Corp Boosts Stock Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Bank of New York Mellon Corp boosted its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 497,547 shares of the biopharmaceutical company’s stock after purchasing an additional 27,839 shares during the quarter. Bank of New York Mellon Corp’s holdings in Akebia Therapeutics were worth $945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its position in shares of Akebia Therapeutics by 276.1% in the third quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock worth $360,000 after buying an additional 200,482 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Akebia Therapeutics during the 3rd quarter worth approximately $534,000. BNP Paribas Financial Markets boosted its position in shares of Akebia Therapeutics by 205.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 31,137 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Akebia Therapeutics in the third quarter valued at $58,000. Finally, State Street Corp increased its position in Akebia Therapeutics by 24.9% in the third quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after purchasing an additional 683,287 shares during the last quarter. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Stock Down 4.4 %

NASDAQ AKBA opened at $1.95 on Wednesday. Akebia Therapeutics, Inc. has a 52 week low of $0.80 and a 52 week high of $2.89. The firm has a market capitalization of $460.65 million, a price-to-earnings ratio of -8.48 and a beta of 0.94. The company has a fifty day moving average of $2.08 and a two-hundred day moving average of $1.83.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $46.50 million for the quarter, compared to analysts’ expectations of $37.36 million. Equities research analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

AKBA has been the subject of a number of recent research reports. StockNews.com raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 17th. Piper Sandler lifted their price target on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Finally, HC Wainwright restated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Friday, March 14th.

Insider Buying and Selling at Akebia Therapeutics

In related news, CEO John P. Butler sold 144,250 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $302,925.00. Following the transaction, the chief executive officer now owns 2,604,330 shares of the company’s stock, valued at $5,469,093. This trade represents a 5.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the senior vice president now directly owns 816,234 shares of the company’s stock, valued at approximately $1,714,091.40. This trade represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,579 shares of company stock worth $589,216 over the last 90 days. Company insiders own 4.10% 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.