Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) are up big in late afternoon trading today after a surge in share price over the last 90 minutes. The stock has been hot since August, with gains of over 100% since then. As investors look towards the future, and technical data turns positive we could in fact see this run extend through the remainder of this week.
Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) opened the day trading at $12.08 before dropping into the red. At approximately 12:28 p.m. ET shares hit a low of $11.92 before a sudden pop took the stock up to $12.34 within a matter of 10 minutes. Since then the stock has continued to move up on below-average volume. It will be interesting to watch shares as the year closes out tomorrow afternoon. The stock is up 5.41% or $0.65 following the news, hitting $12.66 per share. About 255,912 shares traded hands. AKBA has risen 45.58% since May 27, 2015 and is uptrending. It has outperformed the S&P500 by 47.70%.
From a total of 4 analysts covering Akebia Therapeutics Inc (NASDAQ:AKBA) stock, 4 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $26 while the lowest target price is $10. The mean of all analyst targets is $19.75 which is 56.00% above today’s ($12.66) stock price. Akebia Therapeutics Inc was the topic of 7 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. H.C. Wainwright maintained shares on December 15 with a “Buy” rating. Morgan Stanley initiated shares with a”Equal Weight” rating and a $10 target share price in their report from an August 13. Morgan Stanley upgraded AKBA stock in a recent report from September 9 to a “Overweight” rating.
The institutional sentiment decreased to 1.89 in Q2 2015. It’s down 2.94, from 4.83 in 2015Q2. The ratio is negative, as 12 funds sold all their Akebia Therapeutics Inc shares they owned while 15 reduced their positions. 19 funds bought stakes while 32 increased their total positions. Institutions now own 19.74 million shares which is 21.59% less than the previous share count of 25.18 million in 2015Q2.
Novo A S holds 1.51% of its total portfolio in Akebia Therapeutics Inc, equating to 1.52 million shares. P.A.W. Capital Corp owns 130,000 shares representing 1.44% of their total US portfolio. Moreover, Eam Investors Llc has 0.37% of their total portfolio invested in the company, equating to 241,440 shares. The Florida-based Eagle Asset Management Inc has a total of 0.22% of their portfolio invested in the stock. Perceptive Advisors Llc, a New York-based fund reported 260,000 shares owned.
Since April 6, 2015, the stock had 0 insider buys, and 4 insider sales for a total of $45,127 in net activity. Hadas Nicole R. sold 1,484 shares worth $12,860. Nash Duane sold 996 shares worth $8,617. Satter Muneer A bought 420,000 shares worth $3.47 million.
Akebia Therapeutics, Inc. is a biopharmaceutical company. The company has a market cap of $379.57 million. The Firm is focused on the development of therapeutics based on hypoxia inducible factor biology and the commercialization of these products for patients with kidney disease. It currently has negative earnings. The Company’s lead product candidate, AKB-6548, is being developed as a once-daily, oral therapy.