Akebia Therapeutics (NASDAQ:AKBA) Upgraded at StockNews.com

StockNews.com upgraded shares of Akebia Therapeutics (NASDAQ:AKBA) from a sell rating to a hold rating in a research note published on Monday morning.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a report on Thursday, January 23rd.

Akebia Therapeutics Trading Up 0.5 %

AKBA opened at $2.11 on Monday. The stock has a 50-day moving average price of $2.01 and a 200-day moving average price of $1.70. Akebia Therapeutics has a 12-month low of $0.80 and a 12-month high of $2.48. The stock has a market capitalization of $460.36 million, a P/E ratio of -9.17 and a beta of 0.74.

Insider Activity at Akebia Therapeutics

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 30,202 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $2.10, for a total transaction of $63,424.20. Following the completion of the transaction, the chief accounting officer now owns 280,248 shares of the company’s stock, valued at $588,520.80. This represents a 9.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John P. Butler sold 144,250 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $302,925.00. Following the transaction, the chief executive officer now directly owns 2,604,330 shares of the company’s stock, valued at $5,469,093. The trade was a 5.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 280,579 shares of company stock worth $589,216 in the last ninety days. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. bought a new position in shares of Akebia Therapeutics in the 4th quarter worth approximately $26,000. PDS Planning Inc bought a new position in shares of Akebia Therapeutics in the 4th quarter worth approximately $28,000. Cibc World Markets Corp bought a new position in shares of Akebia Therapeutics in the 4th quarter worth approximately $37,000. Empirical Asset Management LLC bought a new position in shares of Akebia Therapeutics in the 3rd quarter worth approximately $44,000. Finally, XTX Topco Ltd bought a new position in shares of Akebia Therapeutics in the 3rd quarter worth approximately $58,000. Institutional investors own 33.92% of the company’s stock.

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.