Schwab Charles Investment Management Inc. reduced its position in Akcea Therapeutics Inc (NASDAQ:AKCA) by 6.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,060 shares of the company’s stock after selling 5,082 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Akcea Therapeutics were worth $1,685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AKCA. Bellevue Group AG raised its holdings in Akcea Therapeutics by 677.3% in the 2nd quarter. Bellevue Group AG now owns 379,301 shares of the company’s stock worth $8,993,000 after acquiring an additional 330,502 shares during the last quarter. Alps Advisors Inc. purchased a new position in Akcea Therapeutics in the 2nd quarter worth approximately $2,925,000. Jane Street Group LLC purchased a new position in Akcea Therapeutics in the 1st quarter worth approximately $524,000. Millennium Management LLC bought a new stake in Akcea Therapeutics in the 1st quarter worth approximately $310,000. Finally, Strs Ohio grew its position in Akcea Therapeutics by 241.9% in the 2nd quarter. Strs Ohio now owns 14,700 shares of the company’s stock worth $348,000 after purchasing an additional 10,400 shares during the period. Institutional investors own 26.58% of the company’s stock.

NASDAQ:AKCA opened at $23.31 on Friday. Akcea Therapeutics Inc has a 12 month low of $15.20 and a 12 month high of $40.75. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -11.59 and a beta of 0.07.

Akcea Therapeutics (NASDAQ:AKCA) last posted its earnings results on Monday, August 6th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.32. Akcea Therapeutics had a negative net margin of 192.97% and a negative return on equity of 58.32%. The business had revenue of $18.30 million during the quarter, compared to the consensus estimate of $14.24 million. During the same quarter in the previous year, the firm posted ($0.41) EPS. The firm’s revenue was up 221.1% on a year-over-year basis. On average, equities analysts expect that Akcea Therapeutics Inc will post -2.46 earnings per share for the current year.

A number of equities research analysts have commented on AKCA shares. ValuEngine raised shares of Akcea Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Cowen reaffirmed a “hold” rating on shares of Akcea Therapeutics in a research report on Sunday, September 2nd. Zacks Investment Research downgraded shares of Akcea Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Stifel Nicolaus lifted their target price on shares of Akcea Therapeutics from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, September 25th. Finally, Wells Fargo & Co lifted their target price on shares of Akcea Therapeutics from $33.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Akcea Therapeutics presently has a consensus rating of “Hold” and an average target price of $38.20.

Akcea Therapeutics Company Profile

Akcea Therapeutics, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with cardiometabolic diseases caused by lipid disorders in the United States and internationally. It develops Volanesorsen, which has completed Phase 3 clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase 3 clinical study for the treatment of familial partial lipodystrophy.

See Also: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for Akcea Therapeutics (NASDAQ:AKCA)

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