Geode Capital Management LLC Has $6.28 Million Position in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Geode Capital Management LLC grew its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,754,464 shares of the biopharmaceutical company’s stock after buying an additional 218,172 shares during the quarter. Geode Capital Management LLC owned approximately 2.18% of Akebia Therapeutics worth $6,277,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its holdings in Akebia Therapeutics by 40.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 9,037 shares during the last quarter. 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. XTX Topco Ltd bought a new stake in shares of Akebia Therapeutics during the third quarter valued at approximately $58,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Akebia Therapeutics in the third quarter valued at approximately $59,000. 33.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AKBA has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd. StockNews.com lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, December 30th.

Akebia Therapeutics Price Performance

Shares of NASDAQ:AKBA opened at $1.92 on Friday. The stock has a market cap of $418.91 million, a price-to-earnings ratio of -8.35 and a beta of 0.70. The company has a 50 day moving average of $1.89 and a 200-day moving average of $1.51. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last released 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 business had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same period in the previous year, the company earned ($0.08) earnings per share. Equities research analysts anticipate that Akebia Therapeutics, Inc. will post -0.24 earnings per share for the current year.

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.