Akebia Therapeutics, Inc. (NASDAQ:AKBA) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its position in Akebia Therapeutics, Inc. (NASDAQ:AKBA) by 40.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,221 shares of the biopharmaceutical company’s stock after acquiring an additional 9,037 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Akebia Therapeutics were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Akebia Therapeutics by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 8,225,972 shares of the biopharmaceutical company’s stock valued at $15,054,000 after purchasing an additional 618,500 shares in the last quarter. Renaissance Technologies LLC increased its position in Akebia Therapeutics by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,914,800 shares of the biopharmaceutical company’s stock worth $3,993,000 after buying an additional 262,700 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Akebia Therapeutics by 3,122.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,551 shares of the biopharmaceutical company’s stock worth $617,000 after purchasing an additional 585,789 shares during the period. Rhumbline Advisers raised its holdings in shares of Akebia Therapeutics by 4,915.4% in the 2nd quarter. Rhumbline Advisers now owns 247,060 shares of the biopharmaceutical company’s stock worth $252,000 after buying an additional 242,134 shares in the last quarter. Finally, Orchard Capital Management LLC raised its position in Akebia Therapeutics by 29.9% in the 4th quarter. Orchard Capital Management LLC now owns 86,826 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 20,000 shares during the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.

Akebia Therapeutics Price Performance

Shares of NASDAQ AKBA opened at $1.28 on Wednesday. The firm has a market cap of $268.28 million, a price-to-earnings ratio of -5.74 and a beta of 0.77. Akebia Therapeutics, Inc. has a one year low of $0.78 and a one year high of $2.48. The stock’s fifty day moving average price is $1.39 and its two-hundred day moving average price is $1.34.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $43.65 million during the quarter, compared to analyst estimates of $45.61 million. During the same period last year, the business earned ($0.06) earnings per share. On average, equities analysts anticipate that Akebia Therapeutics, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research note on Friday, September 6th.

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.