Insider Buying: Achaogen (AKAO) Major Shareholder Buys $589,170.84 in Stock

Achaogen (NASDAQ:AKAO) major shareholder Robert W. Duggan acquired 47,361 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The shares were acquired at an average cost of $12.44 per share, for a total transaction of $589,170.84. Following the purchase, the insider now directly owns 6,411,108 shares of the company’s stock, valued at $79,754,183.52. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Achaogen stock opened at $12.15 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. Achaogen has a 52-week low of $9.83 and a 52-week high of $27.49.

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Achaogen (NASDAQ:AKAO) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.21). The firm had revenue of $1.87 million during the quarter, compared to analysts’ expectations of $1.18 million. Achaogen had a negative return on equity of 83.14% and a negative net margin of 1,124.10%. equities research analysts predict that Achaogen will post -3.47 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of AKAO. MetLife Investment Advisors LLC purchased a new position in Achaogen in the fourth quarter worth about $151,000. Clear Harbor Asset Management LLC purchased a new position in shares of Achaogen during the fourth quarter valued at approximately $177,000. Ellington Management Group LLC purchased a new position in shares of Achaogen during the fourth quarter valued at approximately $177,000. Tower Research Capital LLC TRC raised its holdings in shares of Achaogen by 375.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 18,648 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 14,725 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Achaogen during the fourth quarter valued at approximately $260,000. 77.37% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on AKAO shares. Stifel Nicolaus dropped their price objective on shares of Achaogen from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective (down previously from $29.00) on shares of Achaogen in a research note on Wednesday, February 28th. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Achaogen in a research note on Wednesday, January 10th. HC Wainwright boosted their price objective on shares of Achaogen from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Mizuho reissued a “buy” rating and set a $28.00 price objective on shares of Achaogen in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $23.56.

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About Achaogen

Achaogen, Inc, a late-stage biopharmaceutical company, focusses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

Insider Buying and Selling by Quarter for Achaogen (NASDAQ:AKAO)

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