Orchard Capital Management LLC Reduces Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Orchard Capital Management LLC decreased its position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 19.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,826 shares of the biopharmaceutical company’s stock after selling 21,634 shares during the quarter. Orchard Capital Management LLC’s holdings in Akebia Therapeutics were worth $89,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Compass Ion Advisors LLC purchased a new position in shares of Akebia Therapeutics during the first quarter worth about $46,000. Cannon Global Investment Management LLC purchased a new position in shares of Akebia Therapeutics during the first quarter worth about $51,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Akebia Therapeutics by 40.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,037 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Akebia Therapeutics during the second quarter worth about $34,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Akebia Therapeutics during the first quarter worth about $79,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Friday, September 6th.

Akebia Therapeutics Stock Up 1.5 %

NASDAQ AKBA opened at $1.37 on Friday. Akebia Therapeutics, Inc. has a 52-week low of $0.78 and a 52-week high of $2.48. The business’s 50-day moving average price is $1.39 and its 200 day moving average price is $1.34. The firm has a market cap of $287.15 million, a P/E ratio of -5.96 and a beta of 0.77.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $43.65 million for the quarter, compared to analysts’ expectations of $45.61 million. During the same period in the prior year, the business earned ($0.06) EPS. As a group, analysts anticipate that Akebia Therapeutics, Inc. will post -0.19 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.