Intech Investment Management LLC Takes Position in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Intech Investment Management LLC acquired a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,066 shares of the biopharmaceutical company’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Akebia Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock worth $15,054,000 after buying an additional 618,500 shares in the last quarter. Bank of New York Mellon Corp increased its position in Akebia Therapeutics by 3,122.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after purchasing an additional 585,789 shares in the last quarter. Renaissance Technologies LLC raised its stake in Akebia Therapeutics by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock valued at $3,993,000 after purchasing an additional 262,700 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake 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 valued at $32,000 after buying an additional 9,037 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Akebia Therapeutics during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock opened at $2.05 on Monday. The firm has a market capitalization of $447.27 million, a PE ratio of -8.91 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. The stock’s 50 day moving average price is $1.69 and its 200 day moving average price is $1.40.

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

Analyst Ratings Changes

A number of research firms recently issued reports on AKBA. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research note on Wednesday, October 23rd.

Akebia Therapeutics 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.