Swiss National Bank Raises Position in Akcea Therapeutics Inc (NASDAQ:AKCA)
Swiss National Bank lifted its stake in shares of Akcea Therapeutics Inc (NASDAQ:AKCA) by 2.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 33,300 shares of the company’s stock after buying an additional 800 shares during the quarter. Swiss National Bank’s holdings in Akcea Therapeutics were worth $781,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Akcea Therapeutics by 2.4% in the 1st quarter. Rhumbline Advisers now owns 17,159 shares of the company’s stock worth $486,000 after buying an additional 409 shares during the period. First Trust Advisors LP boosted its holdings in Akcea Therapeutics by 0.6% in the 1st quarter. First Trust Advisors LP now owns 74,954 shares of the company’s stock worth $2,123,000 after buying an additional 460 shares during the period. SG Americas Securities LLC boosted its holdings in Akcea Therapeutics by 47.6% in the 1st quarter. SG Americas Securities LLC now owns 5,677 shares of the company’s stock worth $161,000 after buying an additional 1,831 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Akcea Therapeutics by 842.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,165 shares of the company’s stock worth $90,000 after buying an additional 2,829 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in Akcea Therapeutics in the 1st quarter worth approximately $106,000. Institutional investors own 25.39% of the company’s stock.
NASDAQ:AKCA traded down $0.39 during trading hours on Friday, hitting $20.65. The stock had a trading volume of 11,617 shares, compared to its average volume of 127,549. The company has a 50 day simple moving average of $21.28 and a two-hundred day simple moving average of $24.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 6.48 and a quick ratio of 6.32. Akcea Therapeutics Inc has a one year low of $18.68 and a one year high of $37.73. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -7.54 and a beta of 1.58.
In other Akcea Therapeutics news, President Sarah Boyce sold 1,819 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $23.52, for a total value of $42,782.88. Following the completion of the transaction, the president now directly owns 19,888 shares of the company’s stock, valued at approximately $467,765.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by company insiders.
Several research firms recently commented on AKCA. ValuEngine downgraded shares of Akcea Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets set a $43.00 price objective on shares of Akcea Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research raised shares of Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $36.00.
Akcea Therapeutics Company Profile
Akcea Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with serious and rare diseases in the United States and internationally. The company offers TEGSEDI, which is designed to reduce the production of transthyretin protein. It develops WAYLIVRA, which has completed Phase III clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase III clinical study for the treatment of familial partial lipodystrophy.
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