Acadian Asset Management LLC Sells 1,246,372 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Acadian Asset Management LLC lowered its holdings in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA - Free Report) by 23.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,063,383 shares of the biopharmaceutical company's stock after selling 1,246,372 shares during the quarter. Acadian Asset Management LLC owned about 1.94% of Akebia Therapeutics worth $4,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AKBA. SG Americas Securities LLC bought a new position in Akebia Therapeutics during the second quarter valued at about $34,000. Compass Ion Advisors LLC bought a new position in shares of Akebia Therapeutics in the 1st quarter valued at approximately $46,000. Cannon Global Investment Management LLC acquired a new stake in Akebia Therapeutics in the 1st quarter worth approximately $51,000. Lazard Asset Management LLC bought a new stake in Akebia Therapeutics during the first quarter worth approximately $79,000. Finally, Orchard Capital Management LLC boosted its position in 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 purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds own 33.92% of the company's stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a "buy" rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research report on Friday, September 6th.

Akebia Therapeutics Stock Up 1.4 %

AKBA stock traded up $0.02 during mid-day trading on Friday, reaching $1.46. 1,199,422 shares of the stock traded hands, compared to its average volume of 3,424,931. The business has a 50-day moving average of $1.36 and a two-hundred day moving average of $1.35. Akebia Therapeutics, Inc. has a 52 week low of $0.78 and a 52 week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $43.65 million during the quarter, compared to analyst estimates of $45.61 million. During the same period last year, the business earned ($0.06) EPS. As a group, equities research analysts anticipate that Akebia Therapeutics, Inc. will post -0.19 EPS for the current year.

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.