46,011 Shares in Akebia Therapeutics, Inc. (NASDAQ:AKBA) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) during the first quarter, Holdings Channel reports. The firm bought 46,011 shares of the biopharmaceutical company’s stock, valued at approximately $88,000.

A number of other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Akebia Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,795,095 shares of the biopharmaceutical company’s stock worth $9,112,000 after buying an additional 40,631 shares in the last quarter. Renaissance Technologies LLC increased its stake in Akebia Therapeutics by 2.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,823,527 shares of the biopharmaceutical company’s stock worth $7,265,000 after acquiring an additional 105,727 shares during the last quarter. AIGH Capital Management LLC bought a new stake in Akebia Therapeutics during the first quarter worth approximately $5,616,000. Northern Trust Corp increased its stake in Akebia Therapeutics by 3.1% during the fourth quarter. Northern Trust Corp now owns 1,685,641 shares of the biopharmaceutical company’s stock worth $3,203,000 after acquiring an additional 50,542 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Akebia Therapeutics by 117.9% during the fourth quarter. Bank of America Corp DE now owns 543,916 shares of the biopharmaceutical company’s stock worth $1,033,000 after acquiring an additional 294,343 shares during the last quarter. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Richard C. Malabre sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $4.01, for a total transaction of $60,150.00. Following the transaction, the chief accounting officer owned 266,914 shares of the company’s stock, valued at approximately $1,070,325.14. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Erik Ostrowski sold 41,314 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $3.67, for a total value of $151,622.38. Following the transaction, the chief financial officer directly owned 503,586 shares in the company, valued at approximately $1,848,160.62. This represents a 7.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,648 shares of company stock worth $258,841. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen raised Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 3rd. Leerink Partners assumed coverage on Akebia Therapeutics in a research note on Monday, April 28th. They set an “outperform” rating and a $7.00 price objective on the stock. HC Wainwright assumed coverage on Akebia Therapeutics in a research note on Wednesday, June 4th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, Leerink Partnrs raised Akebia Therapeutics to a “strong-buy” rating in a research note on Monday, April 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.75.

Akebia Therapeutics Trading Down 1.2%

AKBA opened at $3.25 on Friday. The stock has a market cap of $861.72 million, a price-to-earnings ratio of -19.12 and a beta of 0.96. The stock’s 50 day moving average price is $3.66 and its 200-day moving average price is $2.73. Akebia Therapeutics, Inc. has a one year low of $1.24 and a one year high of $4.08. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.84 and a current ratio of 1.98.

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.