Wells Fargo & Company MN Purchases 32,024 Shares of Akebia Therapeutics Inc. (NASDAQ:AKBA)

Wells Fargo & Company MN grew its holdings in Akebia Therapeutics Inc. (NASDAQ:AKBA) by 35.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,212 shares of the biopharmaceutical company’s stock after purchasing an additional 32,024 shares during the period. Wells Fargo & Company MN owned approximately 0.26% of Akebia Therapeutics worth $1,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. purchased a new position in Akebia Therapeutics during the third quarter valued at approximately $183,000. Teacher Retirement System of Texas purchased a new position in Akebia Therapeutics in the 4th quarter worth approximately $188,000. Fox Run Management L.L.C. purchased a new position in Akebia Therapeutics in the 4th quarter worth approximately $410,000. American International Group Inc. grew its stake in Akebia Therapeutics by 29.9% in the 3rd quarter. American International Group Inc. now owns 29,720 shares of the biopharmaceutical company’s stock worth $585,000 after buying an additional 6,836 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Akebia Therapeutics by 12.4% in the 4th quarter. Strs Ohio now owns 51,700 shares of the biopharmaceutical company’s stock worth $768,000 after acquiring an additional 5,700 shares during the last quarter. 59.38% of the stock is currently owned by institutional investors.

Several research analysts have commented on AKBA shares. Zacks Investment Research upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. ValuEngine raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. BidaskClub downgraded shares of Akebia Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 15th. Finally, Mizuho reissued a “buy” rating and set a $24.00 price objective on shares of Akebia Therapeutics in a research report on Tuesday, March 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Akebia Therapeutics currently has an average rating of “Buy” and an average target price of $22.20.

AKBA stock opened at $9.24 on Tuesday. Akebia Therapeutics Inc. has a fifty-two week low of $9.04 and a fifty-two week high of $20.25. The firm has a market capitalization of $520.72, a P/E ratio of -5.22 and a beta of 1.10.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings data on Monday, March 12th. The biopharmaceutical company reported $0.25 EPS for the quarter, topping the consensus estimate of ($0.36) by $0.61. The company had revenue of $87.32 million during the quarter, compared to analyst estimates of $66.00 million. Akebia Therapeutics had a negative net margin of 43.21% and a negative return on equity of 100.28%. research analysts predict that Akebia Therapeutics Inc. will post -2.08 EPS for the current year.

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Akebia Therapeutics Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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