Akebia Therapeutics, Inc. (NASDAQ:AKBA) Insider Sells $116,804.10 in Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA - Get Free Report) insider Nicholas Grund sold 55,621 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 $116,804.10. Following the completion of the transaction, the insider now directly owns 442,579 shares in the company, valued at $929,415.90. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Akebia Therapeutics Stock Performance

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

Akebia Therapeutics (NASDAQ:AKBA - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $45.66 million. During the same quarter last year, the company posted ($0.08) earnings per share. On average, equities analysts expect that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Akebia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. bought a new position in shares of Akebia Therapeutics in the fourth quarter worth about $26,000. Empirical Asset Management LLC bought a new stake in shares of Akebia Therapeutics during the third quarter valued at approximately $44,000. B. Riley Wealth Advisors Inc. bought a new position in Akebia Therapeutics in the second quarter worth approximately $44,000. XTX Topco Ltd purchased a new position in Akebia Therapeutics during the 3rd quarter worth $58,000. Finally, Intech Investment Management LLC bought a new stake in Akebia Therapeutics during the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 33.92% of the company's stock.

Wall Street Analyst Weigh In

AKBA has been the topic of several recent research reports. StockNews.com cut Akebia Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, January 15th. HC Wainwright reiterated a "buy" rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research report on Thursday, January 23rd.

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.