Insider Selling: Akebia Therapeutics, Inc. (NASDAQ:AKBA) CAO Sells 30,202 Shares of Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) CAO Richard C. Malabre sold 30,202 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $63,424.20. Following the transaction, the chief accounting officer now owns 280,248 shares of the company's stock, valued at approximately $588,520.80. The trade was a 9.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Akebia Therapeutics Stock Down 0.9 %

AKBA traded down $0.02 on Friday, reaching $2.14. The company had a trading volume of 1,436,637 shares, compared to its average volume of 2,410,518. Akebia Therapeutics, Inc. has a 1 year low of $0.80 and a 1 year high of $2.48. The stock has a market capitalization of $466.91 million, a PE ratio of -9.30 and a beta of 0.74. The stock has a 50-day moving average price of $2.01 and a 200-day moving average price of $1.69.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The firm had revenue of $37.43 million for the quarter, compared to analyst estimates of $45.66 million. During the same period last year, the firm earned ($0.08) earnings per share. As a group, analysts expect that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akebia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. SRS Capital Advisors Inc. acquired a new position in Akebia Therapeutics during the fourth quarter worth about $26,000. Empirical Asset Management LLC acquired a new position in Akebia Therapeutics during the third quarter worth about $44,000. B. Riley Wealth Advisors Inc. acquired a new position in Akebia Therapeutics during the second quarter worth about $44,000. XTX Topco Ltd acquired a new position in Akebia Therapeutics during the third quarter worth about $58,000. Finally, Intech Investment Management LLC acquired a new position in Akebia Therapeutics during the third quarter worth about $59,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AKBA shares. StockNews.com downgraded shares of Akebia Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th. HC Wainwright reissued a "buy" rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research report on Thursday, January 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.