Cibc World Markets Corp Makes New Investment in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Cibc World Markets Corp acquired a new stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,468 shares of the biopharmaceutical company’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Effects LLC grew its position in Akebia Therapeutics by 18.5% in the 4th quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Akebia Therapeutics by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 9,662 shares during the period. SRS Capital Advisors Inc. acquired a new stake in Akebia Therapeutics during the fourth quarter worth about $26,000. MetLife Investment Management LLC increased its stake in Akebia Therapeutics by 25.7% during the third quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 13,907 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Akebia Therapeutics by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 586,710 shares of the biopharmaceutical company’s stock valued at $1,115,000 after acquiring an additional 18,043 shares in the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Trading Down 1.0 %

AKBA stock opened at $1.91 on Friday. The firm has a market cap of $451.20 million, a P/E ratio of -8.30 and a beta of 0.94. Akebia Therapeutics, Inc. has a 1-year low of $0.80 and a 1-year high of $2.89. The business’s 50 day moving average is $2.08 and its 200-day moving average is $1.83.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a report on Friday, March 14th. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Piper Sandler increased their price objective on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, March 14th.

Insider Buying and Selling

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

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.