Bank of America Corp DE Sells 2,823 Shares of Akebia Therapeutics Inc (AKBA)

Bank of America Corp DE lessened its stake in Akebia Therapeutics Inc (NASDAQ:AKBA) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,114 shares of the biopharmaceutical company’s stock after selling 2,823 shares during the period. Bank of America Corp DE’s holdings in Akebia Therapeutics were worth $775,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Akebia Therapeutics by 57.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,812 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,835 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Akebia Therapeutics by 80.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 8,418 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 3,743 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Akebia Therapeutics by 3,206.3% during the 4th quarter. Advisor Group Inc. now owns 9,919 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 9,619 shares in the last quarter. HL Financial Services LLC purchased a new position in shares of Akebia Therapeutics during the 4th quarter valued at approximately $56,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Akebia Therapeutics during the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

NASDAQ AKBA opened at $5.79 on Thursday. Akebia Therapeutics Inc has a one year low of $5.20 and a one year high of $11.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.71 and a quick ratio of 1.15. The firm has a market capitalization of $678.92 million, a P/E ratio of -2.37 and a beta of 1.34.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.02). Akebia Therapeutics had a negative net margin of 82.14% and a negative return on equity of 45.06%. The firm had revenue of $72.67 million during the quarter, compared to analyst estimates of $83.69 million. On average, sell-side analysts forecast that Akebia Therapeutics Inc will post -1.44 earnings per share for the current year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Akebia Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, February 11th. BidaskClub lowered Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. assumed coverage on Akebia Therapeutics in a research report on Thursday, May 2nd. They set an “overweight” rating and a $12.00 target price on the stock. ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Finally, Citigroup assumed coverage on Akebia Therapeutics in a research report on Wednesday, March 20th. They set a “neutral” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Akebia Therapeutics has a consensus rating of “Hold” and an average target price of $14.03.

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Akebia Therapeutics Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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