HighTower Advisors LLC Grows Stock Holdings in Akebia Therapeutics, Inc. $AKBA

HighTower Advisors LLC raised its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 35.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,100 shares of the biopharmaceutical company’s stock after acquiring an additional 32,750 shares during the quarter. HighTower Advisors LLC’s holdings in Akebia Therapeutics were worth $242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AKBA. Unified Investment Management grew its holdings in Akebia Therapeutics by 47.8% in the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 5,500 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Akebia Therapeutics by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 137,905 shares of the biopharmaceutical company’s stock worth $263,000 after acquiring an additional 11,257 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Akebia Therapeutics by 10.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,380 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 12,232 shares in the last quarter. Mariner LLC purchased a new stake in Akebia Therapeutics in the 4th quarter worth $28,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Akebia Therapeutics by 27.3% in the 4th quarter. Hsbc Holdings PLC now owns 70,005 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 15,032 shares during the last quarter. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AKBA shares. Zacks Research cut shares of Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. HC Wainwright began coverage on shares of Akebia Therapeutics in a report on Wednesday, June 4th. They issued a “buy” rating and a $8.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $6.75.

Akebia Therapeutics Trading Up 0.3%

Shares of AKBA stock opened at $3.12 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.84 and a current ratio of 1.98. The stock has a market capitalization of $827.24 million, a P/E ratio of -18.35 and a beta of 1.02. The company has a 50 day moving average price of $3.52 and a 200 day moving average price of $2.82. Akebia Therapeutics, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.08.

Insider Activity at Akebia Therapeutics

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $4.01, for a total transaction of $60,150.00. Following the completion of the transaction, the chief accounting officer owned 266,914 shares in the company, valued at $1,070,325.14. The trade was a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Erik Ostrowski sold 41,314 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $3.67, for a total transaction of $151,622.38. Following the sale, the chief financial officer owned 503,586 shares of the company’s stock, valued at $1,848,160.62. This represents a 7.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

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.