Charles Schwab Investment Management Inc. Boosts Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Charles Schwab Investment Management Inc. raised its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,710 shares of the biopharmaceutical company’s stock after buying an additional 18,043 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.27% of Akebia Therapeutics worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AKBA. SRS Capital Advisors Inc. purchased a new stake in shares of Akebia Therapeutics during the 4th quarter valued at about $26,000. XTX Topco Ltd bought a new stake in Akebia Therapeutics during the third quarter worth approximately $58,000. Intech Investment Management LLC purchased a new stake in Akebia Therapeutics during the third quarter valued at approximately $59,000. BNP Paribas Financial Markets lifted its stake in shares of Akebia Therapeutics by 205.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 31,137 shares during the last quarter. Finally, Wealth Effects LLC lifted its stake in shares of Akebia Therapeutics by 18.5% in the 4th quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 5,000 shares during the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

Akebia Therapeutics Stock Performance

Shares of NASDAQ:AKBA opened at $1.91 on Monday. The firm’s 50 day simple moving average is $2.08 and its 200-day simple moving average is $1.84. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.89. The firm has a market cap of $451.20 million, a PE ratio of -8.30 and a beta of 0.94.

Akebia Therapeutics (NASDAQ:AKBA) last announced its quarterly earnings data on Thursday, March 13th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $46.50 million during the quarter, compared to the consensus estimate of $37.36 million. Equities research analysts predict that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler raised their price target on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. StockNews.com upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 17th. Finally, HC Wainwright reissued a “buy” rating and set a $7.50 target price on shares of Akebia Therapeutics in a research note on Friday, March 14th.

Insider Transactions at Akebia Therapeutics

In other Akebia Therapeutics news, SVP Steven Keith Burke sold 50,506 shares of Akebia Therapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.10, for a total value of $106,062.60. Following the transaction, the senior vice president now owns 816,234 shares in the company, valued at $1,714,091.40. The trade was a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Richard C. Malabre sold 30,202 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $63,424.20. Following the transaction, the chief accounting officer now owns 280,248 shares of the company’s stock, valued at approximately $588,520.80. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,579 shares of company stock valued at $589,216. 4.10% of the stock is currently owned by corporate insiders.

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.