Akebia Therapeutics (NASDAQ:AKBA) CFO Erik Ostrowski Sells 56,019 Shares

Akebia Therapeutics, Inc. (NASDAQ:AKBA) CFO Erik Ostrowski sold 56,019 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $1.11, for a total value of $62,181.09. Following the completion of the sale, the chief financial officer directly owned 616,616 shares of the company’s stock, valued at approximately $684,443.76. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Akebia Therapeutics Stock Up 6.1%

NASDAQ AKBA traded up $0.07 on Wednesday, hitting $1.21. 6,042,179 shares of the stock traded hands, compared to its average volume of 3,968,712. The company has a current ratio of 1.40, a quick ratio of 1.33 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average of $1.12 and a 200 day moving average of $1.32. Akebia Therapeutics, Inc. has a twelve month low of $0.82 and a twelve month high of $4.08. The company has a market capitalization of $324.59 million, a P/E ratio of -15.12 and a beta of 0.26.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $53.54 million during the quarter, compared to analyst estimates of $51.67 million. Akebia Therapeutics had a negative return on equity of 62.72% and a negative net margin of 8.83%. As a group, analysts expect that Akebia Therapeutics, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Zacks Research lowered shares of Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. BTIG Research restated a “buy” rating and issued a $4.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akebia Therapeutics in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Akebia Therapeutics in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp acquired a new stake in Akebia Therapeutics in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its stake in Akebia Therapeutics by 697.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 20,622 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 18,037 shares during the last quarter. Caption Management LLC acquired a new position in shares of Akebia Therapeutics during the fourth quarter valued at $40,000. Baird Financial Group Inc. boosted its holdings in shares of Akebia Therapeutics by 23.0% during the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 4,000 shares during the period. Finally, Polymer Capital Management US LLC grew its position in shares of Akebia Therapeutics by 49.5% during the third quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 6,034 shares during the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

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.