Akebia Therapeutics (NASDAQ:AKBA) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.95 and traded as low as $1.46. Akebia Therapeutics shares last traded at $1.51, with a volume of 2,976,098 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Akebia Therapeutics in a report on Wednesday, January 21st. BTIG Research dropped their target price on Akebia Therapeutics from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Akebia Therapeutics in a research report on Friday, February 6th. Piper Sandler decreased their price target on Akebia Therapeutics from $6.00 to $4.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Finally, Wall Street Zen downgraded Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Akebia Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $5.40.

Akebia Therapeutics Trading Up 3.4%

The company’s fifty day moving average is $1.36 and its two-hundred day moving average is $1.95. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.46 and a current ratio of 1.55. The company has a market cap of $404.50 million, a price-to-earnings ratio of -75.46 and a beta of 0.39.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $48.37 million. Akebia Therapeutics had a negative return on equity of 16.70% and a negative net margin of 2.26%. On average, research analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Akebia Therapeutics

In related news, CAO Richard C. Malabre sold 49,524 shares of the firm’s stock in a transaction 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 owned 299,390 shares of the company’s stock, valued at $416,152.10. This trade represents a 14.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John P. Butler bought 69,270 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $1.25 per share, with a total value of $86,587.50. Following the completion of the transaction, the chief executive officer directly owned 3,367,064 shares of the company’s stock, valued at $4,208,830. This trade represents a 2.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Akebia Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in Akebia Therapeutics during the third quarter worth about $42,000. Cibc World Markets Corp acquired a new position in Akebia Therapeutics in the fourth quarter valued at approximately $27,000. Brevan Howard Capital Management LP acquired a new position in Akebia Therapeutics in the second quarter valued at approximately $62,000. Unified Investment Management purchased a new stake in Akebia Therapeutics in the 3rd quarter worth approximately $49,000. Finally, Polymer Capital Management US LLC boosted its position in 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 worth $50,000 after purchasing an additional 6,034 shares in the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

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.