Akebia Therapeutics, Inc. (NASDAQ:AKBA) Short Interest Update

Akebia Therapeutics, Inc. (NASDAQ:AKBA) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 31,207,330 shares, a drop of 15.5% from the January 29th total of 36,927,875 shares. Based on an average daily trading volume, of 4,396,546 shares, the days-to-cover ratio is currently 7.1 days. Approximately 12.1% of the company’s stock are sold short. Approximately 12.1% of the company’s stock are sold short. Based on an average daily trading volume, of 4,396,546 shares, the days-to-cover ratio is currently 7.1 days.

Akebia Therapeutics Trading Up 2.5%

Akebia Therapeutics stock opened at $1.25 on Thursday. The stock has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $2.06. The stock has a market capitalization of $334.85 million, a P/E ratio of -62.47 and a beta of 0.39. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.46 and a current ratio of 1.55. Akebia Therapeutics has a 52 week low of $1.14 and a 52 week high of $4.08.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on AKBA. BTIG Research lowered their price target on shares of Akebia Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Akebia Therapeutics in a research report on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a report on Friday, February 6th. Zacks Research downgraded Akebia Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Finally, Piper Sandler lowered their price target on Akebia Therapeutics from $6.00 to $4.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.40.

Insider Transactions at Akebia Therapeutics

In other news, CAO Richard C. Malabre sold 49,524 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.39, for a total transaction of $68,838.36. Following the completion of the transaction, the chief accounting officer directly owned 299,390 shares of the company’s stock, valued at $416,152.10. This trade represents a 14.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Akebia Therapeutics

Several large investors have recently modified their holdings of AKBA. Vanguard Group Inc. raised its holdings in Akebia Therapeutics by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,547,508 shares of the biopharmaceutical company’s stock valued at $42,445,000 after acquiring an additional 936,042 shares during the period. State Street Corp increased its stake in shares of Akebia Therapeutics by 15.6% during the fourth quarter. State Street Corp now owns 13,687,561 shares of the biopharmaceutical company’s stock worth $22,037,000 after purchasing an additional 1,842,792 shares during the period. Geode Capital Management LLC increased its stake in shares of Akebia Therapeutics by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 6,277,177 shares of the biopharmaceutical company’s stock worth $10,108,000 after purchasing an additional 92,226 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Akebia Therapeutics by 166.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,706,437 shares of the biopharmaceutical company’s stock worth $7,577,000 after purchasing an additional 2,938,624 shares during the last quarter. Finally, UBS Group AG boosted its stake in Akebia Therapeutics by 470.2% in the 3rd quarter. UBS Group AG now owns 3,646,233 shares of the biopharmaceutical company’s stock valued at $9,954,000 after purchasing an additional 3,006,771 shares during the period. 33.92% of the stock is owned by institutional investors.

Akebia Therapeutics Company 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.