Assenagon Asset Management S.A. Makes New Investment in Akebia Therapeutics, Inc. $AKBA

Assenagon Asset Management S.A. acquired a new stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 426,766 shares of the biopharmaceutical company’s stock, valued at approximately $1,165,000. Assenagon Asset Management S.A. owned 0.16% of Akebia Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Abel Hall LLC bought a new stake in Akebia Therapeutics during the 2nd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Akebia Therapeutics in the second quarter valued at about $59,000. Brevan Howard Capital Management LP bought a new position in shares of Akebia Therapeutics during the second quarter valued at about $62,000. Savant Capital LLC purchased a new stake in shares of Akebia Therapeutics during the second quarter worth about $69,000. Finally, Baird Financial Group Inc. boosted its holdings in shares of Akebia Therapeutics by 23.0% during the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 33.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BTIG Research reaffirmed a “buy” rating and set a $5.00 price target on shares of Akebia Therapeutics in a research report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Akebia Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Akebia Therapeutics in a research note on Tuesday, December 2nd. Finally, Wall Street Zen downgraded shares of Akebia Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Akebia Therapeutics Trading Up 1.8%

NASDAQ AKBA opened at $1.68 on Thursday. The firm has a market capitalization of $445.82 million, a PE ratio of -24.00 and a beta of 0.31. The stock’s 50 day moving average is $1.96 and its 200 day moving average is $2.85. Akebia Therapeutics, Inc. has a twelve month low of $1.45 and a twelve month high of $4.08. The company has a quick ratio of 1.80, a current ratio of 1.94 and a debt-to-equity ratio of 1.15.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, is focused on the development and commercialization of therapies for patients with kidney disease. The company’s lead product candidate, vadadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor designed to treat anemia associated with chronic kidney disease in both dialysis-dependent and non-dialysis patients. Akebia’s research and development efforts also extend to preclinical programs targeting nephrology and related metabolic disorders.

Since its founding in 2007, Akebia has pursued strategic collaborations to advance its clinical pipeline and expand its market reach.