Cibc World Markets Corp Acquires Shares of 19,468 Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Cibc World Markets Corp bought a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) during the fourth quarter, Holdings Channel.com reports. The firm bought 19,468 shares of the biopharmaceutical company’s stock, valued at approximately $37,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in Akebia Therapeutics by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock worth $6,277,000 after purchasing an additional 218,172 shares during the last quarter. State Street Corp raised its position in shares of Akebia Therapeutics by 24.9% during the third quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after acquiring an additional 683,287 shares during the last quarter. FMR LLC lifted its stake in shares of Akebia Therapeutics by 26.0% during the third quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock valued at $900,000 after acquiring an additional 140,529 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Akebia Therapeutics by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 586,710 shares of the biopharmaceutical company’s stock valued at $1,115,000 after acquiring an additional 18,043 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Akebia Therapeutics by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 497,547 shares of the biopharmaceutical company’s stock worth $945,000 after purchasing an additional 27,839 shares during the period. 33.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AKBA. HC Wainwright reaffirmed a “buy” rating and issued a $7.50 target price on shares of Akebia Therapeutics in a research note on Friday, March 14th. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 17th. Finally, Piper Sandler lifted their target price on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, March 14th.

Insiders Place Their Bets

In other Akebia Therapeutics news, insider Nicholas Grund sold 55,621 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $116,804.10. Following the completion of the sale, the insider now directly owns 442,579 shares in the company, valued at $929,415.90. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard C. Malabre sold 30,202 shares of Akebia Therapeutics stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $63,424.20. Following the transaction, the chief accounting officer now owns 280,248 shares in the company, valued at $588,520.80. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,579 shares of company stock worth $589,216. Company insiders own 4.10% of the company’s stock.

Akebia Therapeutics Trading Down 1.0 %

NASDAQ:AKBA opened at $1.91 on Friday. Akebia Therapeutics, Inc. has a 1-year low of $0.80 and a 1-year high of $2.89. The firm has a market capitalization of $451.20 million, a price-to-earnings ratio of -8.30 and a beta of 0.94. The business’s 50-day moving average price is $2.08 and its two-hundred day moving average price is $1.83.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $46.50 million for the quarter, compared to analyst estimates of $37.36 million. Sell-side analysts predict that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.

Akebia Therapeutics Company Profile

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.