Fiera Capital Corp Sells 35,802 Shares of Achaogen, Inc. (AKAO)
Fiera Capital Corp cut its holdings in Achaogen, Inc. (NASDAQ:AKAO) by 13.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 239,969 shares of the biopharmaceutical company’s stock after selling 35,802 shares during the quarter. Fiera Capital Corp owned about 0.67% of Achaogen worth $5,214,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. FMR LLC boosted its stake in Achaogen by 64.4% in the first quarter. FMR LLC now owns 4,778,253 shares of the biopharmaceutical company’s stock valued at $120,556,000 after acquiring an additional 1,871,764 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Achaogen by 106.7% during the second quarter. TimesSquare Capital Management LLC now owns 1,088,300 shares of the biopharmaceutical company’s stock worth $23,649,000 after purchasing an additional 561,700 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Achaogen by 11.2% during the first quarter. Vanguard Group Inc. now owns 1,066,701 shares of the biopharmaceutical company’s stock worth $26,913,000 after purchasing an additional 107,406 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Achaogen during the second quarter worth $8,692,000. Finally, Nicholas Investment Partners LP boosted its position in shares of Achaogen by 55.9% during the first quarter. Nicholas Investment Partners LP now owns 248,168 shares of the biopharmaceutical company’s stock worth $6,261,000 after purchasing an additional 88,977 shares in the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on AKAO. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research report on Monday, July 17th. BidaskClub raised shares of Achaogen from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. HC Wainwright began coverage on shares of Achaogen in a research report on Thursday, June 15th. They set a “buy” rating and a $29.00 price target on the stock. ValuEngine raised shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Mizuho began coverage on shares of Achaogen in a research report on Wednesday, September 6th. They set a “buy” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.07.
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Shares of Achaogen, Inc. (AKAO) opened at 16.49 on Monday. The company has a 50-day moving average of $18.01 and a 200 day moving average of $21.79. Achaogen, Inc. has a 52-week low of $3.68 and a 52-week high of $27.79. The company’s market capitalization is $696.42 million.
Achaogen (NASDAQ:AKAO) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.18). The company had revenue of $1.30 million for the quarter, compared to the consensus estimate of $2.69 million. Achaogen had a negative return on equity of 86.24% and a negative net margin of 281.88%. The firm’s revenue was down 85.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.87) earnings per share. Analysts predict that Achaogen, Inc. will post ($3.04) earnings per share for the current year.
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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