Achaogen, Inc. (AKAO) Short Interest Update

Achaogen, Inc. (NASDAQ:AKAO) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 9,714,870 shares, a drop of 0.6% from the November 15th total of 9,770,428 shares. Currently, 36.5% of the company’s stock are sold short. Based on an average daily trading volume, of 855,667 shares, the short-interest ratio is presently 11.4 days.

AKAO has been the subject of a number of recent analyst reports. Leerink Swann reiterated an “outperform” rating and issued a $22.00 target price (down from $28.00) on shares of Achaogen in a research note on Monday, October 9th. They noted that the move was a valuation call. BidaskClub upgraded shares of Achaogen from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 22nd. Guggenheim initiated coverage on shares of Achaogen in a research note on Tuesday, October 24th. They issued a “buy” rating and a $17.00 target price for the company. Mizuho initiated coverage on shares of Achaogen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.78.

Achaogen (AKAO) traded down $0.07 on Monday, reaching $11.05. 2,013,100 shares of the company’s stock were exchanged, compared to its average volume of 876,888. Achaogen has a 12 month low of $10.24 and a 12 month high of $27.79. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08.

Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.13). Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The business had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $2.09 million. During the same period in the prior year, the business posted ($0.41) earnings per share. The business’s quarterly revenue was down 96.4% compared to the same quarter last year. analysts expect that Achaogen will post -3.06 EPS for the current year.

In other news, COO Blake Wise sold 3,576 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.36% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in Achaogen during the 2nd quarter worth approximately $168,000. Sigma Planning Corp raised its position in Achaogen by 9.6% during the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 825 shares during the last quarter. Bank of Montreal Can raised its position in Achaogen by 33.3% during the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 2,500 shares during the last quarter. Ardsley Advisory Partners purchased a new position in Achaogen during the 2nd quarter worth approximately $217,000. Finally, JPMorgan Chase & Co. raised its position in Achaogen by 691.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 9,677 shares during the last quarter. 85.81% of the stock is owned by 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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