Assenagon Asset Management SA sells 578,836 shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Assenagon Asset Management SA reduced its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA – Free Report) by 73.2% in the second quarter, HoldingsChannel reports. The fund owned 211,647 shares of the biopharmaceutical company’s stock after selling 578,836 shares during the period. Assenagon Asset Management SA’s holdings in Akebia Therapeutics were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AKBA. Eagle Wealth Strategies LLC bought a new position in shares of Akebia Therapeutics in the fourth quarter valued at approximately $25,000. Mackenzie Financial Corp boosted its stake in Akebia Therapeutics by 37.6% in the fourth quarter. Mackenzie Financial Corp now owns 23,159 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 6,330 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Akebia Therapeutics in the second quarter valued at approximately $34,000. Raymond James & Associates boosted its stake in Akebia Therapeutics by 48.0% in the fourth quarter. Raymond James & Associates now owns 29,917 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 9,696 shares during the last quarter. Finally, Compass Ion Advisors LLC bought a new position in shares of Akebia Therapeutics in the first quarter worth about $46,000. 33.92% of shares are owned by institutional investors.

Akebia Therapeutics trading up 4.1%

NASDAQ:AKBA opened at $1.53 on Friday. Akebia Therapeutics, Inc. has a 1 year low of $0.78 and a 1 year high of $2.48. The firm has a market cap of $320.68 million, a price-to-earnings ratio of -6.65 and a beta of 0.77. The company’s 50-day moving average price is $1.21 and its two-hundred-day moving average price is $1.35.

Akebia Therapeutics (NASDAQ:AKBA – Get Free Report ) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $43.65 million during the quarter, compared to the consensus estimate of $45.61 million. During the same period last year, the company earned ($0.06) earnings per share. Sell-side analysts predict that Akebia Therapeutics, Inc. will post -0.28 earnings per share for the current year.

Analysts on Wall Street are forecasting an increase

AKBA has been the subject of several analyst reports. HC Wainwright lifted their price target on shares of Akebia Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Monday, August 12th. StockNews.com cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, April 29th.

Check out the latest stock analysis on Akebia Therapeutics

Akebia Therapeutics Profile

(Free report)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing medicines for patients with kidney disease. The company’s lead product candidate is Vafseo (vadadustat), an oral hypoxia-inducible prolyl hydroxylase factor, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis-dependent patients. the patients.

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