Mercer Global Advisors Inc. ADV Raises Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Mercer Global Advisors Inc. ADV boosted its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 40.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,221 shares of the biopharmaceutical company’s stock after acquiring an additional 9,037 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Akebia Therapeutics were worth $32,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Akebia Therapeutics by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock worth $15,054,000 after buying an additional 618,500 shares during the period. Bank of New York Mellon Corp increased its stake in Akebia Therapeutics by 3,122.2% during the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after acquiring an additional 585,789 shares during the last quarter. Renaissance Technologies LLC increased its stake in Akebia Therapeutics by 7.2% during the second quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock worth $3,993,000 after acquiring an additional 262,700 shares during the last quarter. Rhumbline Advisers increased its stake in Akebia Therapeutics by 4,915.4% during the second quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 242,134 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Akebia Therapeutics during the 1st quarter worth $79,000. 33.92% of the stock is currently owned by institutional investors.

Akebia Therapeutics Stock Down 3.0 %

Shares of Akebia Therapeutics stock opened at $1.28 on Wednesday. Akebia Therapeutics, Inc. has a twelve month low of $0.78 and a twelve month high of $2.48. The firm has a market cap of $268.28 million, a PE ratio of -5.74 and a beta of 0.77. The business has a 50-day moving average price of $1.39 and a 200 day moving average price of $1.34.

Akebia Therapeutics (NASDAQ:AKBA) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $43.65 million during the quarter, compared to analysts’ expectations of $45.61 million. During the same period in the previous year, the firm earned ($0.06) EPS. On average, sell-side analysts expect that Akebia Therapeutics, Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research report on Friday, September 6th.

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.