Stanley Laman Group Ltd. lowered its stake in shares of Akebia Therapeutics Inc (NASDAQ:AKBA) by 11.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,182 shares of the biopharmaceutical company’s stock after selling 40,307 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.53% of Akebia Therapeutics worth $2,659,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in AKBA. BlackRock Inc. boosted its position in Akebia Therapeutics by 16.7% during the 2nd quarter. BlackRock Inc. now owns 5,015,035 shares of the biopharmaceutical company’s stock valued at $50,050,000 after purchasing an additional 717,328 shares during the period. Marshall Wace LLP boosted its position in Akebia Therapeutics by 129.7% during the 2nd quarter. Marshall Wace LLP now owns 539,259 shares of the biopharmaceutical company’s stock valued at $5,382,000 after purchasing an additional 304,490 shares during the period. First Manhattan Co. boosted its position in Akebia Therapeutics by 41.8% during the 3rd quarter. First Manhattan Co. now owns 801,366 shares of the biopharmaceutical company’s stock valued at $7,076,000 after purchasing an additional 236,300 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Akebia Therapeutics during the 2nd quarter valued at approximately $1,334,000. Finally, Allianz Asset Management GmbH acquired a new position in Akebia Therapeutics during the 1st quarter valued at approximately $1,188,000. Institutional investors and hedge funds own 75.57% of the company’s stock.
AKBA stock traded up $0.02 during trading on Tuesday, reaching $7.75. 14,784 shares of the company’s stock were exchanged, compared to its average volume of 509,538. Akebia Therapeutics Inc has a 1-year low of $7.32 and a 1-year high of $18.39. The firm has a market capitalization of $459.78 million, a PE ratio of -4.40 and a beta of 0.96.
A number of research firms recently issued reports on AKBA. Needham & Company LLC reduced their price objective on Akebia Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 10th. ValuEngine upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Morgan Stanley set a $9.00 price objective on Akebia Therapeutics and gave the company a “hold” rating in a research report on Friday, September 7th. Raymond James began coverage on Akebia Therapeutics in a research report on Monday, August 13th. They set a “buy” rating and a $18.00 price target for the company. Finally, Zacks Investment Research upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research report on Wednesday, August 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $18.75.
Akebia Therapeutics Profile
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.
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