Voya Investment Management LLC acquired a new position in shares of Achaogen, Inc. (NASDAQ:AKAO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,580 shares of the biopharmaceutical company’s stock, valued at approximately $295,000.
A number of other institutional investors have also recently added to or reduced their stakes in AKAO. California Public Employees Retirement System bought a new position in Achaogen in the second quarter valued at approximately $243,000. Vanguard Group Inc. lifted its stake in Achaogen by 32.2% in the second quarter. Vanguard Group Inc. now owns 1,410,129 shares of the biopharmaceutical company’s stock valued at $30,641,000 after buying an additional 343,428 shares in the last quarter. Northern Trust Corp lifted its stake in Achaogen by 619.5% in the second quarter. Northern Trust Corp now owns 341,367 shares of the biopharmaceutical company’s stock valued at $7,418,000 after buying an additional 293,920 shares in the last quarter. Citigroup Inc. lifted its stake in Achaogen by 106.0% in the second quarter. Citigroup Inc. now owns 63,457 shares of the biopharmaceutical company’s stock valued at $1,379,000 after buying an additional 32,650 shares in the last quarter. Finally, Artal Group S.A. lifted its stake in Achaogen by 233.3% in the second quarter. Artal Group S.A. now owns 200,000 shares of the biopharmaceutical company’s stock valued at $4,346,000 after buying an additional 140,000 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.
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A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday. Stifel Nicolaus cut their price target on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Achaogen in a research note on Thursday, November 9th. Mizuho reaffirmed a “buy” rating and issued a $28.00 price target on shares of Achaogen in a research note on Thursday, November 9th. Finally, BidaskClub lowered shares of Achaogen from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $25.78.
Shares of Achaogen, Inc. (NASDAQ AKAO) opened at $11.92 on Wednesday. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08. Achaogen, Inc. has a fifty-two week low of $4.67 and a fifty-two week high of $27.79.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.13). Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The business had revenue of $0.58 million during the quarter, compared to analyst estimates of $2.09 million. During the same quarter last year, the business earned ($0.41) earnings per share. Achaogen’s revenue for the quarter was down 96.4% on a year-over-year basis. equities research analysts forecast that Achaogen, Inc. will post -3.14 EPS for the current year.
In other news, COO Blake Wise sold 3,576 shares of Achaogen stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.36% of the stock is owned by company insiders.
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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