Akebia Therapeutics (NASDAQ:AKBA) CAO Sells $68,838.36 in Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA) CAO Richard Malabre sold 49,524 shares of Akebia Therapeutics stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.39, for a total value of $68,838.36. Following the sale, the chief accounting officer directly owned 299,390 shares in the company, valued at approximately $416,152.10. This trade represents a 14.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Akebia Therapeutics Stock Performance

AKBA stock traded down $0.04 on Wednesday, reaching $1.37. The company’s stock had a trading volume of 3,004,077 shares, compared to its average volume of 2,997,337. Akebia Therapeutics, Inc. has a 52 week low of $1.30 and a 52 week high of $4.08. The company has a market capitalization of $363.56 million, a P/E ratio of -19.57 and a beta of 0.38. The firm has a fifty day moving average of $1.53 and a two-hundred day moving average of $2.38. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.94 and a quick ratio of 1.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AKBA shares. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. BTIG Research reissued a “buy” rating and set a $5.00 target price on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. Wall Street Zen downgraded shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Akebia Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Institutional Trading of Akebia Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Abel Hall LLC acquired a new stake in Akebia Therapeutics during the second quarter valued at approximately $39,000. State of Alaska Department of Revenue bought a new position in shares of Akebia Therapeutics in the third quarter valued at $42,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Akebia Therapeutics during the 2nd quarter valued at $59,000. Brevan Howard Capital Management LP acquired a new stake in shares of Akebia Therapeutics during the 2nd quarter valued at $62,000. Finally, Unified Investment Management bought a new stake in shares of Akebia Therapeutics during the 3rd quarter worth $49,000. 33.92% of the stock is currently owned by institutional investors.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.