Steven Keith Burke Sells 50,506 Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA) SVP Steven Keith Burke sold 50,506 shares of Akebia Therapeutics 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 $106,062.60. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Akebia Therapeutics Stock Performance

Akebia Therapeutics stock opened at $2.17 on Thursday. The firm has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $1.67. Akebia Therapeutics, Inc. has a 52-week low of $0.80 and a 52-week high of $2.48. The firm has a market cap of $473.45 million, a price-to-earnings ratio of -9.43 and a beta of 0.74.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million for the quarter, compared to analyst estimates of $45.66 million. During the same quarter last year, the firm posted ($0.08) EPS. As a group, equities research analysts predict that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AKBA shares. HC Wainwright reiterated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Thursday, January 23rd. StockNews.com lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AKBA. Barclays PLC grew its stake in Akebia Therapeutics by 276.1% during the third quarter. Barclays PLC now owns 273,085 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 200,482 shares during the period. Wellington Management Group LLP bought a new position in shares of Akebia Therapeutics during the 3rd quarter worth approximately $534,000. BNP Paribas Financial Markets grew its position in shares of Akebia Therapeutics by 205.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 31,137 shares during the period. XTX Topco Ltd bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at $58,000. Finally, State Street Corp lifted its position in shares of 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 acquiring an additional 683,287 shares during the period. 33.92% of the stock is owned by institutional investors and hedge funds.

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.