Akebia Therapeutics (NASDAQ:AKBA) CEO John Butler Acquires 69,270 Shares of Stock
by Tristan Rich · The Markets DailyAkebia Therapeutics, Inc. (NASDAQ:AKBA – Get Free Report) CEO John Butler purchased 69,270 shares of Akebia Therapeutics stock in a transaction that occurred on Wednesday, March 4th. The shares were bought at an average price of $1.25 per share, with a total value of $86,587.50. Following the transaction, the chief executive officer owned 3,367,064 shares in the company, valued at approximately $4,208,830. The trade was a 2.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Akebia Therapeutics Price Performance
Shares of NASDAQ:AKBA traded up $0.07 during trading on Friday, reaching $1.26. The stock had a trading volume of 1,349,344 shares, compared to its average volume of 3,365,563. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.46 and a current ratio of 1.55. Akebia Therapeutics, Inc. has a 1-year low of $1.14 and a 1-year high of $4.08. The stock has a market cap of $336.19 million, a PE ratio of -62.72 and a beta of 0.39. The business has a fifty day moving average price of $1.39 and a 200-day moving average price of $2.05.
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $57.62 million for the quarter, compared to analysts’ expectations of $48.37 million. Akebia Therapeutics had a negative return on equity of 16.70% and a negative net margin of 2.26%. On average, equities analysts forecast that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on AKBA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, January 21st. Wall Street Zen lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research downgraded Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Piper Sandler reduced their price target on Akebia Therapeutics from $6.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Finally, BTIG Research dropped their price objective on shares of Akebia Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Akebia Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.40.
Get Our Latest Research Report on AKBA
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Akebia Therapeutics during the 3rd quarter worth about $42,000. Cibc World Markets Corp purchased a new position in shares of Akebia Therapeutics in the fourth quarter valued at approximately $27,000. Brevan Howard Capital Management LP acquired a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $62,000. Unified Investment Management acquired a new position in shares of Akebia Therapeutics in the third quarter valued at approximately $49,000. Finally, Polymer Capital Management US LLC increased 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 worth $50,000 after buying an additional 6,034 shares during the period. 33.92% of the stock is currently owned by hedge funds and other institutional investors.
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.