Akebia Therapeutics (NASDAQ:AKBA) CAO Richard Malabre Sells 49,524 Shares

Akebia Therapeutics, Inc. (NASDAQ:AKBA) CAO Richard Malabre sold 49,524 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.39, for a total transaction of $68,838.36. Following the completion of the sale, the chief accounting officer owned 299,390 shares in the company, valued at $416,152.10. The trade was a 14.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Akebia Therapeutics Price Performance

NASDAQ AKBA opened at $1.37 on Thursday. The stock has a market capitalization of $363.55 million, a P/E ratio of -19.57 and a beta of 0.38. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.80 and a current ratio of 1.94. The business’s fifty day moving average is $1.52 and its two-hundred day moving average is $2.37. Akebia Therapeutics, Inc. has a 1 year low of $1.30 and a 1 year high of $4.08.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AKBA. Abel Hall LLC acquired a new position in shares of Akebia Therapeutics during the 2nd quarter worth about $39,000. Baird Financial Group Inc. lifted its holdings in shares of Akebia Therapeutics by 23.0% during the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 4,000 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Akebia Therapeutics during the third quarter worth $42,000. Unified Investment Management acquired a new position in Akebia Therapeutics during the 3rd quarter valued at $49,000. Finally, Polymer Capital Management US LLC raised its stake in Akebia Therapeutics by 49.5% during the 3rd quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 6,034 shares during the last quarter. 33.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. BTIG Research reissued a “buy” rating and set a $5.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.