First Manhattan Co. grew its position in Akebia Therapeutics Inc (NASDAQ:AKBA) by 41.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 801,366 shares of the biopharmaceutical company’s stock after purchasing an additional 236,300 shares during the period. First Manhattan Co. owned approximately 1.40% of Akebia Therapeutics worth $7,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in Akebia Therapeutics by 18.2% during the 2nd quarter. Northern Trust Corp now owns 613,187 shares of the biopharmaceutical company’s stock worth $6,120,000 after buying an additional 94,348 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Akebia Therapeutics by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 214,720 shares of the biopharmaceutical company’s stock worth $2,143,000 after buying an additional 14,089 shares during the last quarter. California Public Employees Retirement System grew its stake in Akebia Therapeutics by 10.9% during the 2nd quarter. California Public Employees Retirement System now owns 67,626 shares of the biopharmaceutical company’s stock worth $675,000 after buying an additional 6,626 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in Akebia Therapeutics by 46.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 20,759 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 6,578 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Akebia Therapeutics by 129.7% during the 2nd quarter. Marshall Wace LLP now owns 539,259 shares of the biopharmaceutical company’s stock worth $5,382,000 after buying an additional 304,490 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:AKBA traded up $0.76 on Friday, hitting $8.96. The company’s stock had a trading volume of 2,579,674 shares, compared to its average volume of 478,906. Akebia Therapeutics Inc has a 12 month low of $7.32 and a 12 month high of $16.43. The stock has a market cap of $463.32 million, a price-to-earnings ratio of -5.06 and a beta of 1.10.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.18. Akebia Therapeutics had a negative return on equity of 46.95% and a negative net margin of 30.60%. The company had revenue of $53.17 million during the quarter, compared to analysts’ expectations of $39.71 million. Equities analysts expect that Akebia Therapeutics Inc will post -2.7 EPS for the current fiscal year.

AKBA has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Akebia Therapeutics in a research note on Friday, September 7th. They set a “weight” rating for the company. Raymond James initiated coverage on Akebia Therapeutics in a research note on Monday, August 13th. They set a “buy” rating and a $18.00 price objective for the company. ValuEngine downgraded Akebia Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. BidaskClub upgraded Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 13th. Finally, Zacks Investment Research upgraded Akebia Therapeutics from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Akebia Therapeutics currently has an average rating of “Buy” and an average target price of $18.75.

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Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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

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