Geode Capital Management LLC Has $6.28 Million Stock Position in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Geode Capital Management LLC raised its stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,754,464 shares of the biopharmaceutical company’s stock after buying an additional 218,172 shares during the quarter. Geode Capital Management LLC’s holdings in Akebia Therapeutics were worth $6,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AKBA. Mercer Global Advisors Inc. ADV lifted its position in Akebia Therapeutics by 40.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,037 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of Akebia Therapeutics in the third quarter valued at about $44,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics during the second quarter worth about $44,000. XTX Topco Ltd bought a new position in shares of Akebia Therapeutics during the third quarter worth about $58,000. Finally, Intech Investment Management LLC acquired a new stake in Akebia Therapeutics in the 3rd quarter valued at approximately $59,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Akebia Therapeutics Price Performance

Shares of NASDAQ AKBA opened at $1.92 on Friday. The business has a 50-day moving average of $1.89 and a 200-day moving average of $1.51. The stock has a market capitalization of $418.91 million, a price-to-earnings ratio of -8.35 and a beta of 0.70. Akebia Therapeutics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) 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 analysts’ expectations of $45.66 million. During the same period in the previous year, the business earned ($0.08) earnings per share. On average, sell-side analysts expect that Akebia Therapeutics, Inc. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AKBA shares. HC Wainwright reaffirmed 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 lowered shares of Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 30th.

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.