Gabelli Funds LLC lifted its holdings in Achaogen Inc (NASDAQ:AKAO) by 181.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 174,000 shares of the biopharmaceutical company’s stock after purchasing an additional 112,200 shares during the period. Gabelli Funds LLC owned about 0.39% of Achaogen worth $2,253,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Achaogen by 2.1% during the 1st quarter. BlackRock Inc. now owns 2,898,459 shares of the biopharmaceutical company’s stock worth $37,536,000 after acquiring an additional 60,613 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Achaogen by 0.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,367,965 shares of the biopharmaceutical company’s stock worth $14,692,000 after acquiring an additional 6,300 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Achaogen by 3,318.6% during the 4th quarter. Renaissance Technologies LLC now owns 642,700 shares of the biopharmaceutical company’s stock worth $6,903,000 after acquiring an additional 623,900 shares in the last quarter. Prosight Management LP bought a new position in shares of Achaogen during the 4th quarter worth approximately $6,132,000. Finally, Deutsche Bank AG raised its stake in shares of Achaogen by 307.3% during the 4th quarter. Deutsche Bank AG now owns 517,221 shares of the biopharmaceutical company’s stock worth $5,553,000 after acquiring an additional 390,241 shares in the last quarter. 68.72% of the stock is owned by hedge funds and other institutional investors.
Shares of AKAO stock traded up $0.17 during trading hours on Thursday, hitting $12.12. The company’s stock had a trading volume of 929,790 shares, compared to its average volume of 1,206,465. The company has a market capitalization of $539.79 million, a P/E ratio of -3.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.24, a current ratio of 7.01 and a quick ratio of 7.01. Achaogen Inc has a 12-month low of $9.83 and a 12-month high of $25.22.
Several research firms recently commented on AKAO. Zacks Investment Research lowered shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. HC Wainwright restated a “buy” rating and set a $29.00 price target (up previously from $19.00) on shares of Achaogen in a research note on Monday, April 30th. Guggenheim lowered shares of Achaogen from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a research note on Monday, May 7th. Mizuho restated a “buy” rating on shares of Achaogen in a research note on Thursday, May 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target (down previously from $29.00) on shares of Achaogen in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $22.67.
In related news, major shareholder Robert W. Duggan acquired 976,880 shares of the firm’s stock in a transaction on Thursday, May 3rd. The shares were acquired at an average cost of $11.33 per share, with a total value of $11,068,050.40. Following the completion of the acquisition, the insider now directly owns 8,027,627 shares in the company, valued at approximately $90,953,013.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Robert W. Duggan acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, March 28th. The shares were bought at an average cost of $12.44 per share, for a total transaction of $373,200.00. Following the completion of the acquisition, the insider now owns 6,391,108 shares of the company’s stock, valued at $79,505,383.52. The disclosure for this purchase can be found here. Insiders have purchased 1,878,674 shares of company stock worth $22,666,809 over the last three months. 7.80% of the stock is currently owned by insiders.
Achaogen, Inc, a late-stage biopharmaceutical company, focusses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.
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