Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stock Holdings Increased by Rhumbline Advisers

Rhumbline Advisers lifted its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 9.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 265,389 shares of the biopharmaceutical company’s stock after buying an additional 22,513 shares during the period. Rhumbline Advisers owned approximately 0.12% of Akebia Therapeutics worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AKBA. Wealth Effects LLC grew its holdings in shares of Akebia Therapeutics by 18.5% during the fourth quarter. Wealth Effects LLC now owns 32,000 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 5,000 shares in the last quarter. AlphaMark Advisors LLC purchased a new position in shares of Akebia Therapeutics during the fourth quarter valued at $73,000. SG Americas Securities LLC boosted its position in Akebia Therapeutics by 62.3% during the fourth quarter. SG Americas Securities LLC now owns 116,771 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 44,806 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Akebia Therapeutics by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 98,546 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 9,662 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Akebia Therapeutics during the third quarter valued at $221,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Akebia Therapeutics

In related news, CAO Richard C. Malabre sold 30,202 shares of the business’s stock in a transaction dated 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 directly owns 280,248 shares in the company, valued at $588,520.80. The trade was a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Steven Keith Burke sold 50,506 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $106,062.60. Following the completion of the sale, the senior vice president now owns 816,234 shares in the company, valued at approximately $1,714,091.40. This represents a 5.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 280,579 shares of company stock worth $589,216 over the last three months. Company insiders own 4.10% of the company’s stock.

Akebia Therapeutics Stock Performance

NASDAQ AKBA opened at $1.90 on Friday. Akebia Therapeutics, Inc. has a twelve month low of $0.80 and a twelve month high of $2.48. The stock has a market capitalization of $414.54 million, a PE ratio of -8.26 and a beta of 0.94. The stock has a 50-day simple moving average of $2.02 and a 200 day simple moving average of $1.77.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AKBA shares. HC Wainwright reissued a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Thursday, January 23rd. StockNews.com cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday.

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.