78,444 Shares in Akebia Therapeutics, Inc. (NASDAQ:AKBA) Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,444 shares of the biopharmaceutical company’s stock, valued at approximately $104,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of Akebia Therapeutics by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock worth $3,993,000 after acquiring an additional 262,700 shares during the period. Bank of New York Mellon Corp boosted its stake in Akebia Therapeutics by 3,122.2% in the second quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after purchasing an additional 585,789 shares in the last quarter. Rhumbline Advisers boosted its stake in Akebia Therapeutics by 4,915.4% in the second quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock worth $252,000 after purchasing an additional 242,134 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Akebia Therapeutics by 117.1% during the third quarter. SG Americas Securities LLC now owns 71,965 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 38,821 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Akebia Therapeutics in the third quarter valued at $65,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Akebia Therapeutics Stock Performance

NASDAQ AKBA opened at $1.84 on Tuesday. The stock has a market capitalization of $401.45 million, a P/E ratio of -8.15 and a beta of 0.70. Akebia Therapeutics, Inc. has a 52 week low of $0.80 and a 52 week high of $2.48. The stock has a fifty day moving average of $1.75 and a 200-day moving average of $1.43.

Akebia Therapeutics (NASDAQ:AKBA) last posted its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to analyst estimates of $45.66 million. During the same quarter last year, the company posted ($0.08) EPS. Equities research analysts forecast that Akebia Therapeutics, Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AKBA shares. HC Wainwright reiterated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday.

About Akebia Therapeutics

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, 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.