Akebia Therapeutics, Inc. (NASDAQ:AKBA) CAO Sells $63,424.20 in Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA) CAO Richard C. Malabre sold 30,202 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $63,424.20. Following the sale, the chief accounting officer now owns 280,248 shares of the company’s stock, valued at approximately $588,520.80. This represents a 9.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Akebia Therapeutics Stock Performance

NASDAQ:AKBA traded up $0.02 during mid-day trading on Tuesday, reaching $2.14. 1,343,441 shares of the company’s stock were exchanged, compared to its average volume of 2,507,634. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.48. The firm has a market capitalization of $466.91 million, a PE ratio of -9.30 and a beta of 0.74. The business’s fifty day simple moving average is $2.00 and its two-hundred day simple moving average is $1.67.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, equities research analysts forecast that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AKBA. StockNews.com cut shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Akebia Therapeutics

Several hedge funds have recently added to or reduced their stakes in AKBA. Empirical Asset Management LLC acquired a new stake in Akebia Therapeutics during the 3rd quarter worth approximately $44,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Akebia Therapeutics in the 2nd quarter valued at $44,000. XTX Topco Ltd bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at $58,000. Intech Investment Management LLC bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at $59,000. Finally, BNP Paribas Financial Markets increased its stake in Akebia Therapeutics by 205.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 31,137 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.

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.