Intech Investment Management LLC Boosts Stock Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Intech Investment Management LLC lifted its holdings in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 162.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,209 shares of the biopharmaceutical company’s stock after buying an additional 73,143 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Akebia Therapeutics worth $225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AKBA. Geode Capital Management LLC lifted its position in shares of Akebia Therapeutics by 4.8% during the third quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock worth $6,277,000 after acquiring an additional 218,172 shares in the last quarter. State Street Corp grew its holdings in Akebia Therapeutics by 24.9% during the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock valued at $4,528,000 after buying an additional 683,287 shares in the last quarter. FMR LLC increased its position in shares of Akebia Therapeutics by 26.0% during the third quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock valued at $900,000 after buying an additional 140,529 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Akebia Therapeutics by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 586,710 shares of the biopharmaceutical company’s stock worth $1,115,000 after buying an additional 18,043 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Akebia Therapeutics by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 497,547 shares of the biopharmaceutical company’s stock valued at $945,000 after acquiring an additional 27,839 shares during the period. 33.92% of the stock is owned by institutional investors.

Akebia Therapeutics Price Performance

Shares of Akebia Therapeutics stock opened at $1.92 on Thursday. Akebia Therapeutics, Inc. has a 1 year low of $0.80 and a 1 year high of $2.89. The firm has a market cap of $453.56 million, a PE ratio of -8.35 and a beta of 0.94. The company has a 50 day simple moving average of $2.08 and a two-hundred day simple moving average of $1.83.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on AKBA shares. StockNews.com upgraded 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 objective on Akebia Therapeutics from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, HC Wainwright restated a “buy” rating and issued a $7.50 target price on shares of Akebia Therapeutics in a research note on Friday, March 14th.

Insiders Place Their Bets

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 30,202 shares of Akebia Therapeutics stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $63,424.20. Following the transaction, the chief accounting officer now directly owns 280,248 shares of the company’s stock, valued at approximately $588,520.80. This trade represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John P. Butler sold 144,250 shares of the company’s stock in a transaction on 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 280,579 shares of company stock valued at $589,216 over the last 90 days. Insiders own 4.10% of the company’s stock.

Akebia Therapeutics 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.