Corebridge Financial Inc. Has $197,000 Stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Corebridge Financial Inc. lowered its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 103,422 shares of the biopharmaceutical company’s stock after selling 7,807 shares during the quarter. Corebridge Financial Inc.’s holdings in Akebia Therapeutics were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. bought a new stake in shares of Akebia Therapeutics in the 4th quarter valued at about $26,000. PDS Planning Inc acquired a new position in Akebia Therapeutics during the fourth quarter worth approximately $28,000. Cibc World Markets Corp bought a new stake in Akebia Therapeutics in the fourth quarter valued at approximately $37,000. Wealth Effects LLC raised its stake in Akebia Therapeutics by 18.5% in the fourth quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 5,000 shares during the period. Finally, AlphaMark Advisors LLC acquired a new stake in shares of Akebia Therapeutics in the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Wall Street Analyst Weigh In

AKBA has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Akebia Therapeutics from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Jefferies Financial Group started coverage on shares of Akebia Therapeutics in a research report on Tuesday, April 1st. They issued a “buy” rating and a $6.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $7.50 target price on shares of Akebia Therapeutics in a research note on Friday, April 4th. Finally, StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday.

Akebia Therapeutics Stock Performance

AKBA opened at $1.65 on Monday. The stock has a fifty day moving average of $1.96 and a 200-day moving average of $1.87. The company has a market capitalization of $389.78 million, a P/E ratio of -7.17 and a beta of 0.87. Akebia Therapeutics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $2.89.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings data on Thursday, March 13th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $46.50 million for the quarter, compared to analyst estimates of $37.36 million. On average, equities research analysts predict that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John P. Butler sold 144,250 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $302,925.00. Following the sale, the chief executive officer now directly owns 2,604,330 shares of the company’s stock, valued at approximately $5,469,093. This represents a 5.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Steven Keith Burke sold 50,506 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $106,062.60. Following the completion of the transaction, the senior vice president now directly owns 816,234 shares of the company’s stock, valued at approximately $1,714,091.40. This trade represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,579 shares of company stock worth $589,216. Corporate insiders own 4.10% of the company’s stock.

Akebia Therapeutics 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.