Short Interest in Akebia Therapeutics, Inc. (NASDAQ:AKBA) Rises By 18.6%

Akebia Therapeutics, Inc. (NASDAQ:AKBA) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 16,680,000 shares, an increase of 18.6% from the December 31st total of 14,070,000 shares. Based on an average trading volume of 2,100,000 shares, the days-to-cover ratio is presently 7.9 days.

Akebia Therapeutics Stock Down 2.6 %

Shares of AKBA stock opened at $2.24 on Friday. The stock has a market cap of $488.72 million, a price-to-earnings ratio of -9.74 and a beta of 0.72. The business’s fifty day moving average is $2.00 and its 200 day moving average is $1.66. Akebia Therapeutics has a twelve month low of $0.80 and a twelve month high of $2.48.

Akebia Therapeutics (NASDAQ:AKBA) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $37.43 million during the quarter, compared to the consensus estimate of $45.66 million. During the same quarter last year, the firm posted ($0.08) earnings per share. Equities research analysts expect that Akebia Therapeutics will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Akebia Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Akebia Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empirical Asset Management LLC purchased a new stake in Akebia Therapeutics in the third quarter worth $44,000. B. Riley Wealth Advisors Inc. bought a new stake in Akebia Therapeutics in the second quarter worth $44,000. XTX Topco Ltd bought a new stake in Akebia Therapeutics in the third quarter worth $58,000. Intech Investment Management LLC bought a new stake in Akebia Therapeutics in the third quarter worth $59,000. Finally, BNP Paribas Financial Markets boosted its holdings in Akebia Therapeutics by 205.8% in the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 31,137 shares in the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

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.