Balyasny Asset Management L.P. Purchases Shares of 274,452 Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Balyasny Asset Management L.P. purchased a new stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 274,452 shares of the biopharmaceutical company’s stock, valued at approximately $521,000. Balyasny Asset Management L.P. owned 0.13% of Akebia Therapeutics at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. SRS Capital Advisors Inc. bought a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $26,000. PDS Planning Inc bought a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $28,000. Mariner LLC bought a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $28,000. Cibc World Markets Corp bought a new stake in shares of Akebia Therapeutics in the fourth quarter valued at about $37,000. Finally, Aquatic Capital Management LLC acquired a new position in Akebia Therapeutics in the fourth quarter worth about $47,000. 33.92% of the stock is currently owned by institutional investors.

Akebia Therapeutics Price Performance

Shares of NASDAQ:AKBA opened at $2.54 on Friday. The company’s 50-day moving average price is $2.11 and its two-hundred day moving average price is $2.01. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.90. The stock has a market capitalization of $664.93 million, a PE ratio of -11.04 and a beta of 0.88.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $57.34 million for the quarter, compared to analyst estimates of $44.88 million. On average, analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AKBA has been the subject of several recent research reports. Piper Sandler increased their price target on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. StockNews.com raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 3rd. Jefferies Financial Group assumed coverage on shares of Akebia Therapeutics in a report on Tuesday, April 1st. They set a “buy” rating and a $6.00 price objective for the company. Leerink Partners assumed coverage on shares of Akebia Therapeutics in a report on Monday, April 28th. They set an “outperform” rating and a $7.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a report on Friday, April 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.63.

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.