Crawford Lake Capital Management LLC purchased a new stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 323,874 shares of the biopharmaceutical company’s stock, valued at approximately $4,654,000. Akebia Therapeutics accounts for approximately 1.0% of Crawford Lake Capital Management LLC’s holdings, making the stock its 28th biggest holding. Crawford Lake Capital Management LLC owned 1.77% of Akebia Therapeutics at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in Akebia Therapeutics by 2.9% during the second quarter. Creative Planning now owns 10,650 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 300 shares during the last quarter. Rhumbline Advisers boosted its holdings in Akebia Therapeutics by 1.3% during the second quarter. Rhumbline Advisers now owns 41,510 shares of the biopharmaceutical company’s stock worth $596,000 after purchasing an additional 518 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Akebia Therapeutics by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 49,277 shares of the biopharmaceutical company’s stock worth $453,000 after purchasing an additional 608 shares during the last quarter. Legal & General Group Plc boosted its holdings in Akebia Therapeutics by 8.0% during the second quarter. Legal & General Group Plc now owns 9,672 shares of the biopharmaceutical company’s stock worth $142,000 after purchasing an additional 714 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Akebia Therapeutics by 1.0% during the second quarter. Wells Fargo & Company MN now owns 88,116 shares of the biopharmaceutical company’s stock worth $1,266,000 after purchasing an additional 880 shares during the last quarter. Institutional investors own 57.62% of the company’s stock.

In other Akebia Therapeutics news, SVP Michel Dahan sold 5,000 shares of Akebia Therapeutics stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the transaction, the senior vice president now directly owns 102,224 shares of the company’s stock, valued at approximately $1,533,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Muneer A. Satter acquired 1,034,482 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $14,999,989.00. The disclosure for this purchase can be found here. Insiders have sold a total of 7,544 shares of company stock worth $111,287 over the last ninety days. Insiders own 8.67% of the company’s stock.

WARNING: This piece was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/12/crawford-lake-capital-management-llc-purchases-shares-of-323874-akebia-therapeutics-inc-akba.html.

Akebia Therapeutics, Inc. (NASDAQ:AKBA) traded down 0.87% during mid-day trading on Tuesday, reaching $17.03. 96,362 shares of the company’s stock traded hands. The stock’s market cap is $311.65 million. Akebia Therapeutics, Inc. has a 12 month low of $7.16 and a 12 month high of $17.23. The company has a 50 day moving average price of $14.84 and a 200-day moving average price of $12.74.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.36. The firm had revenue of $28.52 million for the quarter, compared to analysts’ expectations of $26.50 million. On average, analysts anticipate that Akebia Therapeutics, Inc. will post ($2.82) EPS for the current year.

Several brokerages recently commented on AKBA. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Monday, August 14th. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Akebia Therapeutics in a report on Tuesday, June 6th. Needham & Company LLC restated a “buy” rating and set a $21.00 target price (up previously from $18.00) on shares of Akebia Therapeutics in a report on Wednesday, May 17th. BidaskClub cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Aegis restated a “buy” rating on shares of Akebia Therapeutics in a report on Friday, June 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $20.29.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics based on hypoxia-inducible factor (HIF) biology. The Company’s lead product candidate, vadadustat, is indicated for the treatment of anemia in chronic kidney disease (CKD).

Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

Receive News & Stock Ratings for Akebia Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akebia Therapeutics Inc. and related stocks with our FREE daily email newsletter.