State Street Corp Purchases 683,287 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA)

State Street Corp increased its holdings in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 24.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,430,527 shares of the biopharmaceutical company's stock after purchasing an additional 683,287 shares during the period. State Street Corp owned approximately 1.57% of Akebia Therapeutics worth $4,528,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Akebia Therapeutics by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company's stock worth $3,993,000 after buying an additional 262,700 shares during the period. 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 worth $900,000 after acquiring an additional 140,529 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 during the period. Rhumbline Advisers lifted its position in Akebia Therapeutics by 4,915.4% in the 2nd quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company's stock valued at $252,000 after acquiring an additional 242,134 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Akebia Therapeutics in the 3rd quarter worth $104,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Stock Down 5.1 %

Shares of AKBA stock traded down $0.10 during trading on Monday, reaching $1.85. The company's stock had a trading volume of 2,388,439 shares, compared to its average volume of 2,994,756. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.48. The business has a fifty day moving average price of $1.87 and a 200-day moving average price of $1.49. The company has a market cap of $403.63 million, a price-to-earnings ratio of -8.04 and a beta of 0.70.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $45.66 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Research analysts anticipate that Akebia Therapeutics, Inc. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com downgraded Akebia Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday. HC Wainwright reiterated a "buy" rating and set a $7.50 price objective on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.

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.