Akebia Therapeutics (NASDAQ:AKBA) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Akebia Therapeutics (NASDAQ:AKBAGet Rating) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Akebia Therapeutics Stock Up 2.0 %

Shares of AKBA opened at $0.26 on Wednesday. Akebia Therapeutics has a 12-month low of $0.24 and a 12-month high of $2.93. The firm has a market capitalization of $47.83 million, a price-to-earnings ratio of -0.30 and a beta of 1.35. The stock’s 50-day moving average price is $0.29 and its 200 day moving average price is $0.36.

Institutional Investors Weigh In On Akebia Therapeutics

Large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Akebia Therapeutics by 17.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 471,681 shares of the biopharmaceutical company’s stock valued at $339,000 after purchasing an additional 69,265 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of Akebia Therapeutics by 5.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 513,292 shares of the biopharmaceutical company’s stock valued at $368,000 after purchasing an additional 27,072 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Akebia Therapeutics in the 1st quarter valued at approximately $39,000. MetLife Investment Management LLC grew its stake in shares of Akebia Therapeutics by 176.6% in the 1st quarter. MetLife Investment Management LLC now owns 85,186 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 54,389 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Akebia Therapeutics in the 3rd quarter valued at approximately $58,000. 31.56% of the stock is currently owned by institutional investors.

Akebia Therapeutics Company 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.

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