Voya Investment Management LLC Decreases Holdings in Akebia Therapeutics, Inc. $AKBA

Voya Investment Management LLC decreased its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 11.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 56,610 shares of the biopharmaceutical company’s stock after selling 7,232 shares during the period. Voya Investment Management LLC’s holdings in Akebia Therapeutics were worth $109,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in Akebia Therapeutics by 6.3% in the first quarter. Rhumbline Advisers now owns 282,066 shares of the biopharmaceutical company’s stock valued at $542,000 after acquiring an additional 16,677 shares in the last quarter. Woodline Partners LP purchased a new position in Akebia Therapeutics in the 1st quarter worth about $4,772,000. Goldman Sachs Group Inc. raised its position in Akebia Therapeutics by 171.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,724,439 shares of the biopharmaceutical company’s stock worth $5,231,000 after buying an additional 1,722,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Akebia Therapeutics by 9.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,897 shares of the biopharmaceutical company’s stock valued at $265,000 after purchasing an additional 11,517 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Akebia Therapeutics by 28.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,579,355 shares of the biopharmaceutical company’s stock valued at $3,032,000 after purchasing an additional 350,645 shares during the last quarter. Institutional investors own 33.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research downgraded Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. HC Wainwright initiated coverage on Akebia Therapeutics in a report on Wednesday, June 4th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Wall Street Zen lowered Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Akebia Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $6.75.

Akebia Therapeutics Price Performance

Shares of NASDAQ AKBA opened at $2.68 on Thursday. Akebia Therapeutics, Inc. has a fifty-two week low of $1.25 and a fifty-two week high of $4.08. The company has a market cap of $710.58 million, a PE ratio of -15.76 and a beta of 0.68. 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 has a 50-day simple moving average of $3.15 and a two-hundred day simple moving average of $2.95.

About Akebia Therapeutics

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.