Millennium Management LLC has recently announced that it has increased stake in Akebia Therapeutics Inc. (NASDAQ:AKBA) by 52.18%. After grabbing 3.05 million shares, the institutional investor is now in possession of 1.05 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 1.62% having worth around $3.24 million. Moreover, Jacobs Levy Equity Management, In increased its share by 0.37 million to have a control over 1.72 million shares. And Foord Asset Management raised its holdings to 0.91 million shares by acquiring 0.91 million shares or 0.48% of the stake.
Akebia Therapeutics Inc. (AKBA) concluded trading on 01/04/24 at a closing price of $1.52, with 4.45 million shares of worth about $6.76 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 75.18% during that period and on Thursday the price saw a gain of about 10.95%. Currently the company’s common shares owned by public are about 184.14M shares, out of which, 167.28M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the AKBA stock and their offered price forecasts bring an average price target of $4.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $4.00. The stock’s current price level is 64.9% above of average price target set by the analysts, while a rise to estimated low would result in gain of 62.0% for the stock. However, touching the estimated high of $5.00 would mean a gain of 69.6% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 1,965,525 shares in 15 of the transactions. In 23 selling transactions, insiders dumped 502,922 shares.
Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Victory Science & Technology Fund are the top 3 mutual funds which are holding stakes in Akebia Therapeutics Inc. Vanguard Total Stock Market ETF is currently holding 4.71 million shares of worth totaling $4.99 million. The company recently came buying 86155.0 shares which brought its stake up to 2.50% of the company’s outstanding shares. Victory Science & Technology Fund, after buying 2.05 million shares, have now control over 1.09% of the stake in the company. It holds 2.05 million shares of worth $2.17 million.
Akebia Therapeutics Inc. (NASDAQ: AKBA) started trading at $1.38, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 1.5200, or with a gain of 10.95%. Stock saw a price change of 26.67% in past 5 days and over the past one month there was a price change of 32.17%. Year-to-date (YTD), AKBA shares are showing a performance of 22.58% which increased to 144.18% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.49 but also hit the highest price of $1.84 during that period. The average intraday trading volume for Akebia Therapeutics Inc. shares is 1.42 million. The stock is currently trading 28.65% above its 20-day simple moving average (SMA20), while that difference is up 45.46% for SMA50 and it goes to 42.04% higher than SMA200.
Millennium Management LLC acquired 3.05 million shares of Akebia Therapeutics Inc. having value of about $3.24 million. Data submitted at the U.S SEC by Millennium Management LLC revealed that the firm now holds 1.05 million shares in the company valued at close to $1591085.84, or have control over 52.18% stake in the company. Akebia Therapeutics Inc. (NASDAQ: AKBA) currently have 184.14M outstanding shares and institutions hold larger chunk of about 18.41% of that. Holding of mutual funds in the company is about 7.79% while other institutional holders and individual stake holders have control over 7.92% and 11.11% of the stake respectively.
The stock has a current market capitalization of $286.35M and its 3Y-monthly beta is at 0.81. It has posted earnings per share of -$0.33 in the same period. It has Quick Ratio of 1.14. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AKBA, volatility over the week remained 9.25% while standing at 6.16% over the month.
Analysts are in expectations that Akebia Therapeutics Inc. (AKBA) stock would likely to be making an EPS of -$0.04 in the current quarter, while forecast for next quarter EPS is -$0.09 and it is -$0.29 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.07 which is -$0.02 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.04 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 37.75% while it is estimated to increase by 9.71% in next year.
Analysts at 3 brokerage firms have issued recommendations for the Akebia Therapeutics Inc. (AKBA)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 3 Wall Street analysts, 3 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BTIG Research on November 29, 2023 offering a Buy rating for the stock and assigned a target price of $4 to it.
