Achaogen Inc (AKAO) Major Shareholder Robert W. Duggan Purchases 36,300 Shares

Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan acquired 36,300 shares of Achaogen stock in a transaction on Tuesday, March 20th. The shares were purchased at an average price of $11.12 per share, with a total value of $403,656.00. Following the completion of the purchase, the insider now owns 6,336,108 shares in the company, valued at approximately $70,457,520.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of AKAO stock opened at $12.88 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.83 and a current ratio of 4.83. The stock has a market cap of $588.59, a PE ratio of -3.64 and a beta of 1.28. Achaogen Inc has a 1-year low of $9.83 and a 1-year high of $27.49.

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Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.21). The company had revenue of $1.87 million for the quarter, compared to analysts’ expectations of $1.18 million. Achaogen had a negative net margin of 1,124.10% and a negative return on equity of 83.14%. sell-side analysts forecast that Achaogen Inc will post -3.5 earnings per share for the current year.

A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Mizuho restated a “buy” rating and set a $28.00 price objective on shares of Achaogen in a research note on Wednesday, January 3rd. SunTrust Banks reduced their price objective on shares of Achaogen to $27.00 and set a “buy” rating for the company in a research note on Wednesday, January 3rd. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Achaogen in a research note on Wednesday, January 10th. Finally, Leerink Swann reaffirmed an “outperform” rating on shares of Achaogen in a report on Sunday, March 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $24.10.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Achaogen by 28.6% during the 4th quarter. BlackRock Inc. now owns 2,837,846 shares of the biopharmaceutical company’s stock valued at $30,478,000 after acquiring an additional 630,547 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Achaogen by 55.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,255,899 shares of the biopharmaceutical company’s stock valued at $35,982,000 after acquiring an additional 806,899 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Achaogen by 0.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,367,965 shares of the biopharmaceutical company’s stock valued at $14,692,000 after acquiring an additional 6,300 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Achaogen by 3,318.6% in the fourth quarter. Renaissance Technologies LLC now owns 642,700 shares of the biopharmaceutical company’s stock worth $6,903,000 after buying an additional 623,900 shares during the last quarter. Finally, Prosight Management LP purchased a new position in shares of Achaogen in the fourth quarter worth approximately $6,132,000. 77.37% of the stock is currently owned by hedge funds and other institutional investors.

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About Achaogen

Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).

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