PDS Planning Inc Invests $28,000 in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

PDS Planning Inc purchased a new position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,000 shares of the biopharmaceutical company’s stock, valued at approximately $28,000.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Akebia Therapeutics by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,754,464 shares of the biopharmaceutical company’s stock valued at $6,277,000 after buying an additional 218,172 shares during the last quarter. State Street Corp boosted its holdings in shares of Akebia Therapeutics by 24.9% in the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock valued at $4,528,000 after buying an additional 683,287 shares during the last quarter. FMR LLC boosted its holdings in shares of Akebia Therapeutics by 26.0% in the 3rd quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock valued at $900,000 after buying an additional 140,529 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Akebia Therapeutics by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 586,710 shares of the biopharmaceutical company’s stock valued at $1,115,000 after buying an additional 18,043 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Akebia Therapeutics by 5.9% in the 4th quarter. Bank of New York Mellon Corp now owns 497,547 shares of the biopharmaceutical company’s stock valued at $945,000 after buying an additional 27,839 shares during the last quarter. 33.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AKBA. Piper Sandler increased their price objective on Akebia Therapeutics from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Friday, March 14th. HC Wainwright reaffirmed a “buy” rating and set a $7.50 price objective on shares of Akebia Therapeutics in a research report on Friday, March 14th. Finally, StockNews.com raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday.

Insider Activity

In other news, SVP Steven Keith Burke sold 50,506 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $106,062.60. Following the completion of the sale, the senior vice president now owns 816,234 shares of the company’s stock, valued at approximately $1,714,091.40. The trade was a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John P. Butler sold 144,250 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.10, for a total transaction of $302,925.00. Following the completion of the sale, the chief executive officer now directly owns 2,604,330 shares of the company’s stock, valued at approximately $5,469,093. The trade was a 5.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,579 shares of company stock valued at $589,216. 4.10% of the stock is owned by company insiders.

Akebia Therapeutics Price Performance

AKBA stock opened at $2.84 on Thursday. The company has a fifty day moving average price of $2.07 and a two-hundred day moving average price of $1.81. Akebia Therapeutics, Inc. has a one year low of $0.80 and a one year high of $2.89. The stock has a market cap of $619.63 million, a price-to-earnings ratio of -12.35 and a beta of 0.94.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, March 13th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $46.50 million for the quarter, compared to analysts’ expectations of $37.36 million. Research analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.

Akebia Therapeutics Company 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.