Wealth Enhancement Advisory Services LLC Takes Position in Akebia Therapeutics, Inc. $AKBA

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,184 shares of the biopharmaceutical company’s stock, valued at approximately $59,000.

Other hedge funds also recently bought and sold shares of the company. Unified Investment Management lifted its stake in Akebia Therapeutics by 47.8% during the first quarter. Unified Investment Management now owns 17,000 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 5,500 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Akebia Therapeutics by 51.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 19,311 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 6,595 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Akebia Therapeutics by 23.0% in the 1st quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 4,000 shares in the last quarter. New York State Common Retirement Fund lifted its position 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 in the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of Akebia Therapeutics by 200.0% in the first quarter. PDS Planning Inc now owns 45,000 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 30,000 shares in the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AKBA shares. Wall Street Zen cut Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Zacks Research downgraded Akebia Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.75.

Akebia Therapeutics Stock Down 4.8%

AKBA opened at $2.75 on Monday. Akebia Therapeutics, Inc. has a fifty-two week low of $1.27 and a fifty-two week high of $4.08. The business has a 50-day moving average of $3.04 and a 200-day moving average of $3.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.98 and a quick ratio of 1.84. The company has a market capitalization of $729.15 million, a PE ratio of -16.18 and a beta of 0.68.

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.