Achaogen Inc. (AKAO) Sees Significant Growth in Short Interest
Achaogen Inc. (NASDAQ:AKAO) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 818,696 shares, a growth of 43.8% from the October 31st total of 569,203 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average trading volume of 213,180 shares, the short-interest ratio is presently 3.8 days.
Large investors have recently bought and sold shares of the company. Northern Trust Corp increased its position in shares of Achaogen by 52.6% in the third quarter. Northern Trust Corp now owns 23,346 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 8,046 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Achaogen by 13.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 85,472 shares of the biopharmaceutical company’s stock valued at $236,000 after buying an additional 10,330 shares in the last quarter. Eagle Global Advisors LLC increased its position in shares of Achaogen by 55.4% in the second quarter. Eagle Global Advisors LLC now owns 38,749 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 13,812 shares in the last quarter. ICONIQ Capital LLC increased its position in shares of Achaogen by 100.3% in the second quarter. ICONIQ Capital LLC now owns 28,629 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 14,333 shares in the last quarter. Finally, Bridgeway Capital Management Inc. increased its position in shares of Achaogen by 13.2% in the second quarter. Bridgeway Capital Management Inc. now owns 156,185 shares of the biopharmaceutical company’s stock valued at $592,000 after buying an additional 18,235 shares in the last quarter. Hedge funds and other institutional investors own 54.69% of the company’s stock.
Achaogen (NASDAQ:AKAO) opened at 5.08 on Tuesday. The firm has a 50-day moving average price of $4.88 and a 200-day moving average price of $4.17. Achaogen has a one year low of $2.59 and a one year high of $6.18. The firm’s market cap is $139.45 million.
Achaogen (NASDAQ:AKAO) last announced its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.20. The business earned $16.05 million during the quarter, compared to analyst estimates of $8.72 million. Achaogen had a negative net margin of 147.80% and a negative return on equity of 143.44%. The company’s quarterly revenue was up 258.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.48) EPS. On average, equities analysts expect that Achaogen will post ($2.31) EPS for the current fiscal year.
A number of research firms have recently commented on AKAO. Needham & Company LLC reissued a “hold” rating on shares of Achaogen in a report on Tuesday, August 9th. Zacks Investment Research cut Achaogen from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. SunTrust Banks Inc. reissued a “buy” rating and set a $10.00 price target on shares of Achaogen in a report on Monday, September 26th. Wedbush reissued an “outperform” rating and set a $10.00 price target on shares of Achaogen in a report on Tuesday, September 27th. Finally, Aegis began coverage on Achaogen in a report on Wednesday, November 2nd. They set a “buy” rating and a $10.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $8.63.
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Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).
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