Informed Momentum Co LLC Invests $3.41 Million in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Informed Momentum Co LLC acquired a new position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,777,911 shares of the biopharmaceutical company’s stock, valued at approximately $3,414,000. Informed Momentum Co LLC owned 0.68% of Akebia Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unified Investment Management grew its position in Akebia Therapeutics by 47.8% during the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 5,500 shares during the period. TD Waterhouse Canada Inc. increased its position in Akebia Therapeutics by 8.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 98,618 shares of the biopharmaceutical company’s stock worth $187,000 after purchasing an additional 8,000 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Akebia Therapeutics by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 137,905 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 11,257 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Akebia Therapeutics by 10.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 12,232 shares during the last quarter. Finally, Mariner LLC acquired a new stake in Akebia Therapeutics during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Stock Down 2.0%

Shares of NASDAQ:AKBA opened at $3.35 on Tuesday. The stock has a market cap of $888.22 million, a P/E ratio of -19.70 and a beta of 0.96. The firm has a fifty day moving average price of $3.69 and a 200 day moving average price of $2.71. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.98 and a quick ratio of 1.84. Akebia Therapeutics, Inc. has a 1-year low of $1.15 and a 1-year high of $4.08.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. HC Wainwright assumed coverage on shares of Akebia Therapeutics in a research note on Wednesday, June 4th. They issued a “buy” rating and a $8.00 price target on the stock. Leerink Partnrs upgraded shares of Akebia Therapeutics to a “strong-buy” rating in a report on Monday, April 28th. Wall Street Zen upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 3rd. Finally, Leerink Partners initiated coverage on shares of Akebia Therapeutics in a report on Monday, April 28th. They issued an “outperform” rating and a $7.00 target price for the company. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $6.75.

Insiders Place Their Bets

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $4.01, for a total transaction of $60,150.00. Following the completion of the transaction, the chief accounting officer owned 266,914 shares in the company, valued at approximately $1,070,325.14. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Erik Ostrowski sold 41,314 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $3.67, for a total transaction of $151,622.38. Following the transaction, the chief financial officer owned 503,586 shares in the company, valued at approximately $1,848,160.62. This trade represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,648 shares of company stock valued at $258,841. 3.00% of the stock is owned by company 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.