Short Interest in Akebia Therapeutics, Inc. (NASDAQ:AKBA) Rises By 18.6%

Akebia Therapeutics, Inc. (NASDAQ:AKBA) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 16,680,000 shares, an increase of 18.6% from the December 31st total of 14,070,000 shares. Based on an average daily volume of 2,100,000 shares, the days-to-cover ratio is currently 7.9 days.

Akebia Therapeutics Stock Performance

AKBA stock opened at $2.24 on Friday. Akebia Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $2.48. The business’s 50-day moving average is $2.00 and its two-hundred day moving average is $1.66. The company has a market cap of $488.72 million, a price-to-earnings ratio of -9.74 and a beta of 0.72.

Akebia Therapeutics (NASDAQ:AKBA) last posted 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 during the quarter, compared to the consensus estimate of $45.66 million. During the same quarter last year, the company posted ($0.08) earnings per share. Equities analysts predict that Akebia Therapeutics will post -0.3 earnings per share for the current year.

Institutional Trading of Akebia Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empirical Asset Management LLC purchased a new stake in Akebia Therapeutics in the third quarter worth about $44,000. B. Riley Wealth Advisors Inc. purchased a new stake in Akebia Therapeutics in the second quarter worth about $44,000. XTX Topco Ltd purchased a new stake in Akebia Therapeutics in the third quarter worth about $58,000. Intech Investment Management LLC purchased a new stake in Akebia Therapeutics in the third quarter worth about $59,000. Finally, BNP Paribas Financial Markets increased its position in Akebia Therapeutics by 205.8% in the third 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 in the last quarter. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a report on Thursday, January 23rd. StockNews.com downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th.

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.