Fmr LLC Buys 140,529 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Fmr LLC boosted its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 26.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 682,038 shares of the biopharmaceutical company’s stock after purchasing an additional 140,529 shares during the quarter. Fmr LLC owned about 0.31% of Akebia Therapeutics worth $900,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV lifted 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 buying an additional 9,037 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Akebia Therapeutics during the second quarter worth approximately $34,000. Empirical Asset Management LLC acquired a new position in shares of Akebia Therapeutics during the third quarter worth approximately $44,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics during the second quarter worth approximately $44,000. Finally, Intech Investment Management LLC acquired a new position in shares of Akebia Therapeutics during the third quarter worth approximately $59,000. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Trading Down 0.5 %

Shares of NASDAQ AKBA opened at $1.84 on Tuesday. The business has a fifty day simple moving average of $1.75 and a 200 day simple moving average of $1.43. The firm has a market capitalization of $401.45 million, a price-to-earnings ratio of -8.00 and a beta of 0.70. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same period last year, the firm earned ($0.08) EPS. On average, research analysts anticipate that Akebia Therapeutics, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.

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.