Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 73.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,647 shares of the biopharmaceutical company's stock after selling 578,836 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Akebia Therapeutics worth $216,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates boosted its position in Akebia Therapeutics by 48.0% during the fourth quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company's stock worth $37,000 after purchasing an additional 9,696 shares during the period. Mackenzie Financial Corp lifted its holdings in Akebia Therapeutics by 37.6% during the 4th quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 6,330 shares during the last quarter. Eagle Wealth Strategies LLC bought a new stake in Akebia Therapeutics in the 4th quarter valued at $25,000. Sapient Capital LLC acquired a new position in Akebia Therapeutics in the 4th quarter valued at $248,000. Finally, Orchard Capital Management LLC lifted its holdings in shares of Akebia Therapeutics by 29.9% during the fourth quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company's stock worth $108,000 after buying an additional 20,000 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Trading Up 4.1 %

Akebia Therapeutics stock traded up $0.06 during mid-day trading on Friday, reaching $1.53. The company had a trading volume of 2,766,035 shares, compared to its average volume of 3,584,241. Akebia Therapeutics, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $2.48. The company has a market cap of $320.68 million, a P/E ratio of -6.65 and a beta of 0.77. The business has a fifty day simple moving average of $1.21 and a 200 day simple moving average of $1.35.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The firm had revenue of $43.65 million for the quarter, compared to analyst estimates of $45.61 million. During the same period in the previous year, the business posted ($0.06) earnings per share. Research analysts forecast that Akebia Therapeutics, Inc. will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AKBA. HC Wainwright increased their target price on shares of Akebia Therapeutics from $6.00 to $7.50 and gave the stock a "buy" rating in a research report on Monday, August 12th. StockNews.com cut Akebia Therapeutics from a "buy" rating to a "hold" rating in a research report on Monday, April 29th.

Akebia Therapeutics 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.