Bank of New York Mellon Corp raised its stake in Akebia Therapeutics Inc. (NASDAQ:AKBA) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,975 shares of the biopharmaceutical company’s stock after buying an additional 9,982 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of Akebia Therapeutics worth $971,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nantahala Capital Management LLC raised its position in shares of Akebia Therapeutics by 507.8% in the first quarter. Nantahala Capital Management LLC now owns 1,347,326 shares of the biopharmaceutical company’s stock valued at $12,139,000 after buying an additional 1,125,652 shares during the last quarter. Alps Advisors Inc. boosted its position in Akebia Therapeutics by 25.2% in the second quarter. Alps Advisors Inc. now owns 53,350 shares of the biopharmaceutical company’s stock worth $399,000 after buying an additional 10,728 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in Akebia Therapeutics by 82.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 33,982 shares of the biopharmaceutical company’s stock worth $306,000 after buying an additional 15,346 shares during the period. Institutional investors own 51.58% of the company’s stock.
Shares of Akebia Therapeutics Inc. (NASDAQ:AKBA) traded down 2.17% during mid-day trading on Friday, hitting $8.10. The stock had a trading volume of 163,093 shares. The stock’s market cap is $148.23 million. The company’s 50 day moving average price is $8.68 and its 200 day moving average price is $8.63. Akebia Therapeutics Inc. has a 12-month low of $7.00 and a 12-month high of $13.20.
Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.95) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by $0.38. Equities research analysts predict that Akebia Therapeutics Inc. will post ($3.73) EPS for the current fiscal year.
AKBA has been the topic of a number of research reports. Brean Capital initiated coverage on Akebia Therapeutics in a research note on Thursday, September 29th. They set a “buy” rating and a $18.00 price target on the stock. HC Wainwright restated a “buy” rating on shares of Akebia Therapeutics in a research note on Tuesday, August 23rd. Credit Suisse Group AG restated a “hold” rating on shares of Akebia Therapeutics in a research note on Tuesday, July 12th. Zacks Investment Research cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Finally, JMP Securities restated a “market perform” rating and set a $16.00 price target on shares of Akebia Therapeutics in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $14.43.
Akebia Therapeutics Company Profile
Akebia Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development of therapeutics based on hypoxia inducible factor (HIF) biology, and the commercialization of these products for patients with serious medical needs. The Company’s segment is the business of developing and commercializing proprietary therapeutics based on HIF biology.
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