Akebia Therapeutics (NASDAQ:AKBA) Stock Rating Lowered by StockNews.com

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

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

Akebia Therapeutics Stock Performance

Shares of Akebia Therapeutics stock traded down $0.02 on Thursday, reaching $1.90. The stock had a trading volume of 2,284,590 shares, compared to its average volume of 2,239,886. The stock has a market cap of $414.54 million, a P/E ratio of -8.26 and a beta of 0.94. Akebia Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $2.48. The business's 50-day moving average price is $2.02 and its two-hundred day moving average price is $1.77.

Insider Activity at Akebia Therapeutics

In other news, SVP Steven Keith Burke sold 50,506 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 816,234 shares in the company, valued at approximately $1,714,091.40. This represents a 5.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Richard C. Malabre sold 30,202 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $63,424.20. Following the completion of the transaction, the chief accounting officer now owns 280,248 shares of the company's stock, valued at approximately $588,520.80. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,579 shares of company stock worth $589,216 in the last ninety days. 4.10% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On Akebia Therapeutics

A number of hedge funds have recently made changes to their positions in AKBA. CWA Asset Management Group LLC acquired a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $65,000. Intech Investment Management LLC bought a new stake in shares of Akebia Therapeutics in the 3rd quarter worth about $59,000. The Manufacturers Life Insurance Company bought a new stake in shares of Akebia Therapeutics in the 3rd quarter worth about $104,000. FMR LLC grew its holdings in shares of Akebia Therapeutics by 26.0% in the 3rd quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company's stock worth $900,000 after purchasing an additional 140,529 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Akebia Therapeutics by 205.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 31,137 shares during the last quarter. Institutional investors and hedge funds own 33.92% of the company's stock.

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.