Akebia Therapeutics (NASDAQ:AKBA) Shares Cross Below 50-Day Moving Average of $1.19

Akebia Therapeutics, Inc. (NASDAQ:AKBA)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.19 and traded as low as $0.88. Akebia Therapeutics shares last traded at $0.90, with a volume of 3,999,981 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AKBA shares. StockNews.com cut shares of Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, April 29th. HC Wainwright raised their target price on shares of Akebia Therapeutics from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, March 28th.

Akebia Therapeutics Stock Down 0.7 %

The company’s fifty day moving average is $1.19 and its 200-day moving average is $1.40. The company has a market cap of $189.42 million, a PE ratio of -3.93 and a beta of 0.80.

Akebia Therapeutics (NASDAQ:AKBA) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $32.61 million during the quarter, compared to analysts’ expectations of $41.13 million. During the same quarter in the prior year, the business posted ($0.14) EPS. Equities research analysts expect that Akebia Therapeutics, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AKBA. Assenagon Asset Management S.A. purchased a new position in shares of Akebia Therapeutics during the 1st quarter worth $1,447,000. Vanguard Group Inc. boosted its stake in shares of Akebia Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock worth $15,054,000 after acquiring an additional 618,500 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Akebia Therapeutics during the 4th quarter worth $248,000. Citigroup Inc. boosted its stake in shares of Akebia Therapeutics by 311,608.2% during the 3rd quarter. Citigroup Inc. now owns 152,737 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 152,688 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Akebia Therapeutics during the 1st quarter worth $79,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

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.