Jacobs Levy Equity Management Inc. Sells 219,347 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Jacobs Levy Equity Management Inc. trimmed its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 11.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,637,578 shares of the biopharmaceutical company’s stock after selling 219,347 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Akebia Therapeutics were worth $2,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Akebia Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock valued at $15,054,000 after acquiring an additional 618,500 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Akebia Therapeutics during the 1st quarter worth about $1,447,000. Sapient Capital LLC acquired a new stake in Akebia Therapeutics in the fourth quarter valued at approximately $248,000. Orchard Capital Management LLC increased its stake in Akebia Therapeutics by 29.9% during the 4th quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Akebia Therapeutics during the 1st quarter valued at about $79,000. 33.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, April 29th.

Akebia Therapeutics Price Performance

NASDAQ AKBA opened at $1.38 on Thursday. The stock has a 50-day moving average of $1.14 and a 200-day moving average of $1.38. Akebia Therapeutics, Inc. has a 1-year low of $0.78 and a 1-year high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The business had revenue of $32.61 million during the quarter, compared to analysts’ expectations of $41.13 million. During the same period in the previous year, the business earned ($0.14) EPS. As a group, equities research analysts forecast that Akebia Therapeutics, Inc. will post -0.28 earnings per share for the current year.

About Akebia Therapeutics

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.