Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Purchased by State Street Corp

State Street Corp raised its position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 24.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,430,527 shares of the biopharmaceutical company’s stock after acquiring an additional 683,287 shares during the period. State Street Corp owned approximately 1.57% of Akebia Therapeutics worth $4,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Akebia Therapeutics by 3,122.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after purchasing an additional 585,789 shares during the period. Rhumbline Advisers lifted its position in Akebia Therapeutics by 4,915.4% during the second quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock valued at $252,000 after buying an additional 242,134 shares in the last quarter. Renaissance Technologies LLC grew 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 buying an additional 262,700 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,037 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics during the 2nd quarter valued at $44,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Price Performance

Shares of AKBA stock opened at $1.95 on Monday. The firm has a market capitalization of $425.45 million, a P/E ratio of -8.48 and a beta of 0.70. Akebia Therapeutics, Inc. has a 12 month low of $0.80 and a 12 month high of $2.48. The company’s fifty day moving average price is $1.86 and its two-hundred day moving average price is $1.49.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same period last year, the business earned ($0.08) EPS. On average, sell-side analysts anticipate that Akebia Therapeutics, Inc. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a report on Wednesday, October 23rd. StockNews.com upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, December 13th.

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.