Diametric Capital LP Buys New Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Diametric Capital LP purchased a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the 4th quarter, Holdings Channel.com reports. The fund purchased 88,115 shares of the biopharmaceutical company’s stock, valued at approximately $167,000.

A number of other large investors also recently modified their holdings of AKBA. SRS Capital Advisors Inc. acquired a new stake in Akebia Therapeutics during the 4th quarter worth approximately $26,000. PDS Planning Inc acquired a new stake in shares of Akebia Therapeutics in the fourth quarter worth $28,000. Cibc World Markets Corp acquired a new stake in shares of Akebia Therapeutics in the fourth quarter worth $37,000. Wealth Effects LLC raised 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 acquiring an additional 5,000 shares during the period. Finally, AlphaMark Advisors LLC acquired a new position in shares of Akebia Therapeutics during the 4th quarter valued at $73,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Akebia Therapeutics Trading Up 1.0 %

Shares of NASDAQ AKBA opened at $1.93 on Thursday. The company has a market capitalization of $455.93 million, a price-to-earnings ratio of -8.39 and a beta of 0.95. Akebia Therapeutics, Inc. has a twelve month low of $0.80 and a twelve month high of $2.89. The business has a 50 day simple moving average of $2.06 and a 200-day simple moving average of $1.85.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $46.50 million for the quarter, compared to the consensus estimate of $37.36 million. As a group, equities analysts predict that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

AKBA has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research report on Friday, March 14th. Jefferies Financial Group started coverage on Akebia Therapeutics in a research report on Tuesday. They set a “buy” rating and a $6.00 price target on the stock. StockNews.com downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Piper Sandler boosted their target price on shares of Akebia Therapeutics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th.

Insider Buying and Selling

In related news, SVP Steven Keith Burke sold 50,506 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, CAO Richard C. Malabre sold 30,202 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were 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 approximately $588,520.80. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 280,579 shares of company stock valued at $589,216 in the last three months. 4.10% of the stock is currently owned by corporate insiders.

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.