Invesco Ltd. Acquires 139,957 Shares of Akebia Therapeutics, Inc. $AKBA

Invesco Ltd. grew its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 116.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 260,603 shares of the biopharmaceutical company’s stock after acquiring an additional 139,957 shares during the quarter. Invesco Ltd. owned about 0.10% of Akebia Therapeutics worth $500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mariner LLC purchased a new position in shares of Akebia Therapeutics in the 4th quarter valued at $28,000. Unified Investment Management increased its holdings in shares of Akebia Therapeutics by 47.8% in the 1st quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 5,500 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Akebia Therapeutics by 207.2% in the 1st quarter. New York State Common Retirement Fund now owns 38,400 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 25,900 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Akebia Therapeutics in the 4th quarter valued at $85,000. Finally, PDS Planning Inc increased its holdings in shares of Akebia Therapeutics by 200.0% in the 1st quarter. PDS Planning Inc now owns 45,000 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 30,000 shares during the period. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Akebia Therapeutics Stock Down 2.0%

Akebia Therapeutics stock opened at $2.96 on Friday. 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 business’s 50-day simple moving average is $3.49 and its two-hundred day simple moving average is $2.83. The company has a market cap of $784.81 million, a PE ratio of -17.41 and a beta of 1.02. Akebia Therapeutics, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.08.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. HC Wainwright assumed coverage on Akebia Therapeutics in a report on Wednesday, June 4th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Wall Street Zen upgraded Akebia Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Akebia Therapeutics has a consensus rating of “Buy” and a consensus price target of $6.75.

Insider Activity

In other Akebia Therapeutics news, CAO Richard C. Malabre sold 15,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $4.01, for a total transaction of $60,150.00. Following the sale, the chief accounting officer owned 266,914 shares in the company, valued at approximately $1,070,325.14. The trade was a 5.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Erik Ostrowski sold 41,314 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $3.67, for a total value of $151,622.38. Following the sale, the chief financial officer owned 503,586 shares in the company, valued at approximately $1,848,160.62. The trade was a 7.58% decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

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.