Akebia Therapeutics, Inc. (NASDAQ:AKBA) CEO John P. Butler Sells 144,250 Shares of Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA) CEO John P. Butler sold 144,250 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $302,925.00. Following the transaction, the chief executive officer now owns 2,604,330 shares in the company, valued at $5,469,093. This trade represents a 5.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Akebia Therapeutics Stock Up 0.9 %

Shares of AKBA stock opened at $2.14 on Wednesday. The firm has a 50 day moving average of $2.00 and a two-hundred day moving average of $1.67. The stock has a market capitalization of $466.91 million, a PE ratio of -9.30 and a beta of 0.74. Akebia Therapeutics, Inc. has a 52 week low of $0.80 and a 52 week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the previous year, the business posted ($0.08) EPS. Analysts expect that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AKBA. StockNews.com downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a research note on Thursday, January 23rd.

Hedge Funds Weigh In On Akebia Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its stake in Akebia Therapeutics by 276.1% in the third quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 200,482 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at $534,000. BNP Paribas Financial Markets lifted its position in shares of Akebia Therapeutics by 205.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 31,137 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Akebia Therapeutics during the third quarter worth $58,000. Finally, State Street Corp increased its holdings in Akebia Therapeutics by 24.9% in the third quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock valued at $4,528,000 after buying an additional 683,287 shares during the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.