ProShare Advisors LLC Increases Stock Position in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

ProShare Advisors LLC increased its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 49.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,585 shares of the biopharmaceutical company’s stock after acquiring an additional 19,277 shares during the quarter. ProShare Advisors LLC’s holdings in Akebia Therapeutics were worth $111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Akebia Therapeutics by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 10,884,200 shares of the biopharmaceutical company’s stock valued at $20,680,000 after buying an additional 813,902 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Akebia Therapeutics by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,795,095 shares of the biopharmaceutical company’s stock valued at $9,112,000 after acquiring an additional 40,631 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Akebia Therapeutics by 2.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,823,527 shares of the biopharmaceutical company’s stock worth $7,265,000 after acquiring an additional 105,727 shares during the period. Northern Trust Corp lifted its position in Akebia Therapeutics by 3.1% in the fourth quarter. Northern Trust Corp now owns 1,685,641 shares of the biopharmaceutical company’s stock valued at $3,203,000 after purchasing an additional 50,542 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Akebia Therapeutics by 5.3% in the 4th quarter. Federated Hermes Inc. now owns 914,003 shares of the biopharmaceutical company’s stock valued at $1,737,000 after purchasing an additional 45,982 shares in the last quarter. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Trading Up 7.3%

NASDAQ:AKBA opened at $3.25 on Tuesday. Akebia Therapeutics, Inc. has a twelve month low of $0.80 and a twelve month high of $3.26. The company has a market capitalization of $853.57 million, a P/E ratio of -14.13 and a beta of 0.88. The firm has a 50-day moving average price of $2.30 and a two-hundred day moving average price of $2.10.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The company had revenue of $57.34 million during the quarter, compared to analysts’ expectations of $44.88 million. On average, equities research analysts predict that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

AKBA has been the subject of several research analyst reports. Piper Sandler increased their price objective on Akebia Therapeutics from $4.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Leerink Partnrs raised shares of Akebia Therapeutics to a “strong-buy” rating in a report on Monday, April 28th. Jefferies Financial Group began coverage on shares of Akebia Therapeutics in a research report on Tuesday, April 1st. They set a “buy” rating and a $6.00 target price on the stock. Wall Street Zen upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a research note on Friday, April 4th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Akebia Therapeutics presently has a consensus rating of “Buy” and an average target price of $6.63.

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.