Insider Selling: Akebia Therapeutics, Inc. (NASDAQ:AKBA) COO Sells $17,962.56 in Stock

Akebia Therapeutics, Inc. (NASDAQ:AKBA – Get Rating) COO Michel Dahan sold 20,412 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $0.88, for a total value of $17,962.56. Following the completion of the transaction, the chief operating officer now directly owns 269,515 shares in the company, valued at approximately $237,173.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Akebia Therapeutics Stock Up 4.0 %

AKBA opened at $0.97 on Monday. The company has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $0.47. Akebia Therapeutics, Inc. has a 12 month low of $0.24 and a 12 month high of $2.93. The stock has a market cap of $177.80 million, a P/E ratio of -1.10 and a beta of 0.84.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AKBA shares. StockNews.com downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. HC Wainwright reissued a “neutral” rating and issued a $1.25 price target on shares of Akebia Therapeutics in a research note on Wednesday, February 22nd. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Akebia Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $1.75.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AKBA. BNP Paribas Arbitrage SA increased its position in shares of Akebia Therapeutics by 123.7% during the second quarter. BNP Paribas Arbitrage SA now owns 90,540 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 50,066 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Akebia Therapeutics in the 1st quarter worth $40,000. Price T Rowe Associates Inc. MD increased its holdings in Akebia Therapeutics by 254.4% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 166,900 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 119,800 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at about $58,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Akebia Therapeutics by 176.6% in the first quarter. MetLife Investment Management LLC now owns 85,186 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 54,389 shares in the last quarter. Institutional investors own 28.13% of the company’s stock.

Akebia Therapeutics Company Profile

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Akebia Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of therapeutics for patients with kidney diseases. The firm is also involved in the development and commercialization of drugs for the treatment of renal and metabolic disorders. Its products include Auryxia and Vadadustat.