Akebia Therapeutics, Inc. (NASDAQ:AKBA) SVP Steven Keith Burke Sells 50,506 Shares

Akebia Therapeutics, Inc. (NASDAQ:AKBA) SVP Steven Keith Burke sold 50,506 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 $1,714,091.40. This trade represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Akebia Therapeutics Stock Performance

Shares of AKBA opened at $2.14 on Wednesday. The firm has a market cap of $466.91 million, a PE ratio of -9.30 and a beta of 0.74. The firm’s 50 day moving average price is $2.00 and its 200 day moving average price is $1.67. Akebia Therapeutics, Inc. has a twelve month low of $0.80 and a twelve month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, sell-side analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AKBA shares. HC Wainwright reaffirmed a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Thursday, January 23rd. StockNews.com lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th.

Hedge Funds Weigh In On Akebia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in Akebia Therapeutics by 276.1% during the third quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 200,482 shares during the last quarter. Wellington Management Group LLP acquired a new position in Akebia Therapeutics during the third quarter valued at approximately $534,000. BNP Paribas Financial Markets grew its holdings in Akebia Therapeutics by 205.8% during the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 31,137 shares during the last quarter. XTX Topco Ltd acquired a new position in Akebia Therapeutics during the third quarter valued at approximately $58,000. Finally, State Street Corp grew its stake in shares of 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 acquiring an additional 683,287 shares during the last quarter. Institutional investors and hedge funds 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.