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

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 16,680,000 shares, a growth of 18.6% from the December 31st total of 14,070,000 shares. Based on an average daily volume of 2,100,000 shares, the short-interest ratio is presently 7.9 days.

Akebia Therapeutics Stock Performance

NASDAQ:AKBA traded down $0.13 during mid-day trading on Monday, hitting $2.12. 3,812,460 shares of the company's stock traded hands, compared to its average volume of 2,538,753. The company has a market capitalization of $461.45 million, a P/E ratio of -9.24 and a beta of 0.74. The company has a fifty day moving average of $2.00 and a 200 day moving average of $1.66. Akebia Therapeutics has a twelve month low of $0.80 and a twelve month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $37.43 million for the quarter, compared to analysts' expectations of $45.66 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. On average, research analysts expect that Akebia Therapeutics will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akebia Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKBA. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the 3rd quarter valued at approximately $44,000. B. Riley Wealth Advisors Inc. acquired a new position in Akebia Therapeutics during the second quarter valued at $44,000. XTX Topco Ltd purchased a new stake in Akebia Therapeutics in the third quarter valued at $58,000. Intech Investment Management LLC acquired a new stake in Akebia Therapeutics during the 3rd quarter worth about $59,000. Finally, 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 worth $61,000 after acquiring an additional 31,137 shares during the period. Hedge funds and other institutional investors own 33.92% of the company's stock.

Wall Street Analysts Forecast Growth

AKBA has been the topic of a number of recent analyst reports. HC Wainwright restated a "buy" rating and issued a $7.50 price target on shares of Akebia Therapeutics in a report on Thursday, January 23rd. StockNews.com lowered shares of Akebia Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th.

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.