404,718 Shares in Akebia Therapeutics, Inc. (NASDAQ:AKBA) Acquired by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in Akebia Therapeutics, Inc. (NASDAQ:AKBA) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 404,718 shares of the biopharmaceutical company’s stock, valued at approximately $534,000. Wellington Management Group LLP owned 0.19% of Akebia Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV increased its holdings in Akebia Therapeutics by 40.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,221 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,037 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Akebia Therapeutics in the second quarter valued at about $34,000. Empirical Asset Management LLC bought a new position in shares of Akebia Therapeutics during the third quarter worth about $44,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Akebia Therapeutics in the second quarter worth approximately $44,000. Finally, Intech Investment Management LLC bought a new stake in Akebia Therapeutics in the third quarter valued at approximately $59,000. Institutional investors own 33.92% of the company’s stock.

Akebia Therapeutics Stock Performance

Shares of AKBA opened at $1.83 on Friday. The firm has a market cap of $399.27 million, a PE ratio of -7.96 and a beta of 0.70. Akebia Therapeutics, Inc. has a 52-week low of $0.80 and a 52-week high of $2.48. The business’s 50 day moving average price is $1.80 and its two-hundred day moving average price is $1.45.

Akebia Therapeutics (NASDAQ:AKBA) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $37.43 million for the quarter, compared to the consensus estimate of $45.66 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. Research analysts predict that Akebia Therapeutics, Inc. will post -0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AKBA shares. HC Wainwright restated a “buy” rating and issued a $7.50 price target on shares of Akebia Therapeutics in a research report on Wednesday, October 23rd. StockNews.com raised shares of Akebia Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, December 13th.

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.