Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Akebia Therapeutics, Inc. (NASDAQ:AKBA)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBAGet Rating) by 17.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,681 shares of the biopharmaceutical company’s stock after purchasing an additional 69,265 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.26% of Akebia Therapeutics worth $339,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in Akebia Therapeutics during the fourth quarter valued at about $30,000. Teacher Retirement System of Texas raised its position in Akebia Therapeutics by 37.2% during the fourth quarter. Teacher Retirement System of Texas now owns 32,286 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 8,759 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Akebia Therapeutics during the first quarter valued at about $39,000. Virtus ETF Advisers LLC raised its position in Akebia Therapeutics by 18.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 69,015 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 10,772 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Akebia Therapeutics during the first quarter valued at about $75,000. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Akebia Therapeutics Stock Up 2.6 %

NASDAQ AKBA opened at $0.38 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market capitalization of $69.86 million, a PE ratio of -0.40 and a beta of 1.50. Akebia Therapeutics, Inc. has a 1 year low of $0.30 and a 1 year high of $3.35. The business’s 50-day moving average is $0.40 and its 200 day moving average is $0.85.

Akebia Therapeutics (NASDAQ:AKBAGet Rating) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.54. The company had revenue of $126.76 million for the quarter, compared to analysts’ expectations of $49.10 million. Akebia Therapeutics had a negative return on equity of 197.12% and a negative net margin of 55.04%. During the same period last year, the firm earned ($0.51) earnings per share. Sell-side analysts forecast that Akebia Therapeutics, Inc. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. HC Wainwright decreased their price objective on Akebia Therapeutics from $2.00 to $1.25 in a report on Monday, May 16th. StockNews.com assumed coverage on Akebia Therapeutics in a report on Sunday. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1.75.

Akebia Therapeutics Profile

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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 vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent adult patients.

Further Reading

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Institutional Ownership by Quarter for Akebia Therapeutics (NASDAQ:AKBA)

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