Akebia Therapeutics, Inc. (NASDAQ:AKBA) CAO Richard C. Malabre Sells 30,202 Shares of Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA) CAO Richard C. Malabre sold 30,202 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $63,424.20. Following the completion of the sale, the chief accounting officer now directly owns 280,248 shares in the company, valued at approximately $588,520.80. The trade was a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Akebia Therapeutics Stock Up 0.9 %

AKBA stock opened at $2.14 on Wednesday. The business has a 50 day moving average of $2.00 and a 200 day moving average of $1.67. The firm has a market cap of $466.91 million, a PE ratio of -9.30 and a beta of 0.74. Akebia Therapeutics, Inc. has a twelve month low of $0.80 and a twelve month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) 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 in the prior year, the company posted ($0.08) earnings per share. On average, research analysts expect that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. HC Wainwright reissued a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research note on Thursday, January 23rd.

Institutional Trading of Akebia Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Akebia Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock worth $6,277,000 after buying an additional 218,172 shares in the last quarter. State Street Corp raised its holdings in Akebia Therapeutics by 24.9% in the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after acquiring an additional 683,287 shares during the last quarter. FMR LLC raised its holdings in 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 acquiring an additional 140,529 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Akebia Therapeutics by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 497,547 shares of the biopharmaceutical company’s stock valued at $945,000 after acquiring an additional 27,839 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Akebia Therapeutics during the 3rd quarter valued at $534,000. 33.92% of the stock is currently owned by institutional investors.

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.