XTX Topco Ltd Makes New $58,000 Investment in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

XTX Topco Ltd purchased a new stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 44,267 shares of the biopharmaceutical company’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of Akebia Therapeutics during the 3rd quarter worth $534,000. State Street Corp raised its holdings in Akebia Therapeutics by 24.9% during the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock valued at $4,528,000 after buying an additional 683,287 shares during the last quarter. MetLife Investment Management LLC boosted its position in Akebia Therapeutics by 25.7% during the 3rd quarter. MetLife Investment Management LLC now owns 68,064 shares of the biopharmaceutical company’s stock valued at $90,000 after buying an additional 13,907 shares during the period. BNP Paribas Financial Markets grew its holdings in Akebia Therapeutics by 205.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 31,137 shares during the last quarter. Finally, FMR LLC increased its position in shares of Akebia Therapeutics by 26.0% in the third quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock valued at $900,000 after acquiring an additional 140,529 shares during the period. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AKBA shares. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, December 13th. HC Wainwright restated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Wednesday, October 23rd.

Akebia Therapeutics Stock Up 2.2 %

NASDAQ:AKBA opened at $1.83 on Monday. Akebia Therapeutics, Inc. has a 52 week low of $0.80 and a 52 week high of $2.48. The stock has a market cap of $399.27 million, a price-to-earnings ratio of -7.96 and a beta of 0.70. The company’s 50 day moving average price is $1.80 and its 200-day moving average price is $1.46.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share 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 analyst estimates of $45.66 million. During the same period in the previous year, the company posted ($0.08) EPS. As a group, sell-side analysts anticipate that Akebia Therapeutics, Inc. will post -0.24 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.