Fmr LLC Has $900,000 Position in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Fmr LLC boosted its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 26.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 682,038 shares of the biopharmaceutical company’s stock after purchasing an additional 140,529 shares during the quarter. Fmr LLC’s holdings in Akebia Therapeutics were worth $900,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Akebia Therapeutics by 3,122.2% during the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after acquiring an additional 585,789 shares in the last quarter. Intech Investment Management LLC acquired a new position in Akebia Therapeutics during the third quarter worth $59,000. Renaissance Technologies LLC raised its stake in Akebia Therapeutics by 7.2% during the second quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock worth $3,993,000 after acquiring an additional 262,700 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,037 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Akebia Therapeutics during the second quarter worth $34,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AKBA. StockNews.com upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. HC Wainwright restated a “buy” rating and set a $7.50 target price on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.

Akebia Therapeutics Stock Performance

Shares of AKBA stock opened at $1.84 on Tuesday. The stock’s fifty day moving average is $1.75 and its 200-day moving average is $1.43. The stock has a market capitalization of $401.45 million, a PE ratio of -8.00 and a beta of 0.70. Akebia Therapeutics, Inc. has a 52 week low of $0.80 and a 52 week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same quarter last year, the company posted ($0.08) EPS. As a group, analysts forecast that Akebia Therapeutics, Inc. will post -0.24 earnings per share for the current fiscal year.

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.