Akebia Therapeutics (NASDAQ:AKBA) Rating Lowered to Sell at StockNews.com

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Tuesday.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $7.50 target price on shares of Akebia Therapeutics in a research report on Thursday, January 23rd.

Akebia Therapeutics Stock Performance

Shares of AKBA traded down $0.11 during trading hours on Tuesday, reaching $1.80. The stock had a trading volume of 3,982,292 shares, compared to its average volume of 2,221,148. Akebia Therapeutics has a 12 month low of $0.80 and a 12 month high of $2.48. The stock has a market capitalization of $392.72 million, a PE ratio of -7.83 and a beta of 0.74. The company's 50-day moving average is $2.02 and its two-hundred day moving average is $1.73.

Insiders Place Their Bets

In other news, CEO John P. Butler sold 144,250 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $302,925.00. Following the completion of the sale, the chief executive officer now directly owns 2,604,330 shares in the company, valued at $5,469,093. This trade represents a 5.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Steven Keith Burke sold 50,506 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $106,062.60. Following the completion of the sale, the senior vice president now owns 816,234 shares of the company's stock, valued at approximately $1,714,091.40. This represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,579 shares of company stock worth $589,216. Company insiders own 4.10% of the company's stock.

Institutional Trading of Akebia Therapeutics

Several large investors have recently made changes to their positions in the company. Wealth Effects LLC grew its stake in shares of Akebia Therapeutics by 18.5% in the 4th quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company's stock valued at $61,000 after buying an additional 5,000 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Akebia Therapeutics by 8.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 98,618 shares of the biopharmaceutical company's stock valued at $187,000 after purchasing an additional 8,000 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Akebia Therapeutics by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company's stock valued at $130,000 after purchasing an additional 9,662 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Akebia Therapeutics by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 137,905 shares of the biopharmaceutical company's stock valued at $263,000 after purchasing an additional 11,257 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Akebia Therapeutics by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company's stock valued at $240,000 after purchasing an additional 12,232 shares during the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.