JPMorgan Chase & Co. Has $130,000 Stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

JPMorgan Chase & Co. raised its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 10.9% during the third quarter, Holdings Channel reports. The firm owned 98,546 shares of the biopharmaceutical company’s stock after purchasing an additional 9,662 shares during the period. JPMorgan Chase & Co.’s holdings in Akebia Therapeutics were worth $130,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics during the 2nd quarter valued at $44,000. SG Americas Securities LLC lifted its position in shares of Akebia Therapeutics by 117.1% during the 3rd quarter. SG Americas Securities LLC now owns 71,965 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 38,821 shares during the period. Empirical Asset Management LLC acquired a new position in shares of Akebia Therapeutics during the 3rd quarter valued at $44,000. CWA Asset Management Group LLC acquired a new position in shares of Akebia Therapeutics during the 3rd quarter valued at $65,000. Finally, Intech Investment Management LLC acquired a new position in shares of Akebia Therapeutics during the 3rd quarter valued at $59,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. HC Wainwright restated a “buy” rating and set a $7.50 price target on shares of Akebia Therapeutics in a research note on Thursday, January 23rd.

Akebia Therapeutics Trading Down 2.6 %

Shares of AKBA stock opened at $2.24 on Monday. The firm has a market capitalization of $488.73 million, a PE ratio of -9.74 and a beta of 0.72. The firm has a fifty day simple moving average of $2.00 and a two-hundred day simple moving average of $1.66. Akebia Therapeutics, Inc. has a 12 month low of $0.80 and a 12 month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last posted its 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 firm had revenue of $37.43 million for the quarter, compared to analysts’ expectations of $45.66 million. During the same period last year, the firm posted ($0.08) EPS. On average, equities analysts predict that Akebia Therapeutics, Inc. will post -0.3 earnings per share for the current fiscal year.

Akebia Therapeutics Profile

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.