Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 51.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 19,311 shares of the biopharmaceutical company’s stock after purchasing an additional 6,595 shares during the period. E Fund Management Co. Ltd.’s holdings in Akebia Therapeutics were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AKBA. AIGH Capital Management LLC acquired a new position in Akebia Therapeutics in the 1st quarter worth about $5,616,000. Vanguard Group Inc. raised its holdings in Akebia Therapeutics by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 12,685,803 shares of the biopharmaceutical company’s stock worth $24,357,000 after purchasing an additional 1,801,603 shares during the period. Informed Momentum Co LLC acquired a new position in Akebia Therapeutics in the 1st quarter worth about $3,414,000. JPMorgan Chase & Co. raised its holdings in Akebia Therapeutics by 363.0% in the 4th quarter. JPMorgan Chase & Co. now owns 456,294 shares of the biopharmaceutical company’s stock worth $867,000 after purchasing an additional 357,748 shares during the period. Finally, Bank of America Corp DE raised its holdings in Akebia Therapeutics by 117.9% in the 4th quarter. Bank of America Corp DE now owns 543,916 shares of the biopharmaceutical company’s stock worth $1,033,000 after purchasing an additional 294,343 shares during the period. Institutional investors and hedge funds own 33.92% of the company’s stock.

Insider Activity at Akebia Therapeutics

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $4.01, for a total transaction of $60,150.00. Following the completion of the sale, the chief accounting officer directly owned 266,914 shares in the company, valued at approximately $1,070,325.14. The trade was a 5.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Erik Ostrowski sold 41,314 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $3.67, for a total value of $151,622.38. Following the sale, the chief financial officer owned 503,586 shares of the company’s stock, valued at approximately $1,848,160.62. This trade represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,648 shares of company stock valued at $258,841. 3.00% of the stock is owned by company insiders.

Akebia Therapeutics Price Performance

NASDAQ:AKBA opened at $3.25 on Friday. Akebia Therapeutics, Inc. has a 12 month low of $1.24 and a 12 month high of $4.08. The stock has a 50 day moving average of $3.66 and a two-hundred day moving average of $2.73. The company has a current ratio of 1.98, a quick ratio of 1.84 and a debt-to-equity ratio of 1.61. The firm has a market cap of $861.72 million, a P/E ratio of -19.12 and a beta of 0.96.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 3rd. Leerink Partnrs raised Akebia Therapeutics to a “strong-buy” rating in a report on Monday, April 28th. Leerink Partners assumed coverage on Akebia Therapeutics in a report on Monday, April 28th. They issued an “outperform” rating and a $7.00 price target for the company. Finally, HC Wainwright assumed coverage on Akebia Therapeutics in a report on Wednesday, June 4th. They issued a “buy” rating and a $8.00 price target for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $6.75.

Akebia Therapeutics 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.