JPMorgan Chase & Co. Has $2.71 Million Holdings in Akebia Therapeutics, Inc. $AKBA

JPMorgan Chase & Co. lessened its holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 39.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 994,181 shares of the biopharmaceutical company’s stock after selling 658,565 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.37% of Akebia Therapeutics worth $2,714,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AKBA. Baird Financial Group Inc. lifted its holdings in Akebia Therapeutics by 23.0% in the first quarter. Baird Financial Group Inc. now owns 21,393 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 4,000 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Akebia Therapeutics during the 3rd quarter valued at $42,000. Unified Investment Management acquired a new position in shares of Akebia Therapeutics in the 3rd quarter valued at $49,000. Polymer Capital Management US LLC lifted its stake in shares of Akebia Therapeutics by 49.5% in the 3rd quarter. Polymer Capital Management US LLC now owns 18,232 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 6,034 shares during the period. Finally, Parkwoods Wealth Partners LLC bought a new position in shares of Akebia Therapeutics in the 3rd quarter worth $55,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Price Performance

AKBA opened at $1.38 on Monday. The stock has a market cap of $369.67 million, a P/E ratio of -68.97 and a beta of 0.37. Akebia Therapeutics, Inc. has a 12 month low of $1.14 and a 12 month high of $4.08. The company has a quick ratio of 1.46, a current ratio of 1.55 and a debt-to-equity ratio of 1.48. The company has a fifty day simple moving average of $1.36 and a 200 day simple moving average of $1.79.

Akebia Therapeutics (NASDAQ:AKBA) last posted its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Akebia Therapeutics had a negative return on equity of 16.70% and a negative net margin of 2.26%.The business had revenue of $57.62 million for the quarter, compared to the consensus estimate of $48.37 million. On average, research analysts expect that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Insider Activity

In related news, CAO Richard C. Malabre sold 49,524 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.39, for a total transaction of $68,838.36. Following the completion of the sale, the chief accounting officer directly owned 299,390 shares of the company’s stock, valued at approximately $416,152.10. This represents a 14.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John P. Butler bought 69,270 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were bought at an average price of $1.25 per share, for a total transaction of $86,587.50. Following the completion of the acquisition, the chief executive officer directly owned 3,367,064 shares in the company, valued at approximately $4,208,830. This trade represents a 2.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AKBA shares. BTIG Research dropped their price objective on Akebia Therapeutics from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, January 21st. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a research report on Friday, February 6th. Wall Street Zen cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Zacks Research downgraded shares of Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.25.

Akebia Therapeutics Profile

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.