Akebia Therapeutics, Inc. (NASDAQ:AKBA) Sees Significant Increase in Short Interest

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 16,680,000 shares, a growth of 18.6% from the December 15th total of 14,070,000 shares. Based on an average trading volume of 2,100,000 shares, the days-to-cover ratio is currently 7.9 days.

Akebia Therapeutics Stock Performance

Shares of AKBA stock traded up $0.14 on Friday, hitting $2.07. The stock had a trading volume of 6,501,675 shares, compared to its average volume of 2,497,784. The stock's 50 day moving average is $1.91 and its 200-day moving average is $1.57. The firm has a market capitalization of $451.63 million, a price-to-earnings ratio of -9.00 and a beta of 0.72. Akebia Therapeutics has a 52-week low of $0.80 and a 52-week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $37.43 million during the quarter, compared to analysts' expectations of $45.66 million. During the same period in the previous year, the business posted ($0.08) EPS. Equities analysts expect that Akebia Therapeutics will post -0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com downgraded Akebia Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday. HC Wainwright reiterated a "buy" rating and issued a $7.50 target price on shares of Akebia Therapeutics in a research note on Tuesday.

Institutional Trading of Akebia Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Akebia Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company's stock worth $6,277,000 after purchasing an additional 218,172 shares during the period. Renaissance Technologies LLC grew its position in shares of Akebia Therapeutics by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company's stock valued at $3,993,000 after buying an additional 262,700 shares during the last quarter. State Street Corp grew its position in shares of 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 during the last quarter. FMR LLC raised its stake in Akebia Therapeutics by 26.0% during the third quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company's stock worth $900,000 after acquiring an additional 140,529 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Akebia Therapeutics by 3,122.2% in 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 during the last quarter. 33.92% of the stock is owned by institutional investors.

About Akebia Therapeutics

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.