Achaogen Inc (NASDAQ:AKAO) shares fell 11.8% during trading on Thursday following insider selling activity. The company traded as low as $0.51 and last traded at $0.51. 3,646,417 shares changed hands during trading, an increase of 114% from the average session volume of 1,700,401 shares. The stock had previously closed at $0.58.

Specifically, major shareholder Robert W. Duggan sold 2,354,007 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $0.60, for a total value of $1,412,404.20. Following the sale, the insider now owns 8,667,207 shares in the company, valued at approximately $5,200,324.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Robert W. Duggan sold 520,102 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $0.63, for a total value of $327,664.26. Following the completion of the sale, the insider now owns 8,667,207 shares in the company, valued at approximately $5,460,340.41. The disclosure for this sale can be found here. Insiders have sold a total of 2,882,120 shares of company stock worth $1,747,575 in the last quarter. 7.80% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on the company. ValuEngine cut Achaogen from a “hold” rating to a “sell” rating in a report on Monday, December 17th. Mizuho restated a “hold” rating and issued a $3.00 price target on shares of Achaogen in a report on Friday, February 15th. HC Wainwright restated a “hold” rating and issued a $2.00 price target on shares of Achaogen in a report on Thursday, February 21st. Finally, Zacks Investment Research upgraded Achaogen from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.17.

The firm has a market capitalization of $38.43 million, a price-to-earnings ratio of -0.16 and a beta of 0.84. The company has a quick ratio of 2.52, a current ratio of 2.54 and a debt-to-equity ratio of 1.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in Achaogen by 42.9% during the 4th quarter. Rhumbline Advisers now owns 41,268 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 12,383 shares during the last quarter. Bank of Nova Scotia grew its holdings in Achaogen by 900.0% during the 4th quarter. Bank of Nova Scotia now owns 50,000 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 45,000 shares during the last quarter. First Midwest Bank Trust Division acquired a new stake in Achaogen during the 4th quarter valued at $69,000. Paloma Partners Management Co acquired a new stake in Achaogen during the 3rd quarter valued at $174,000. Finally, Jefferies Group LLC acquired a new stake in Achaogen during the 3rd quarter valued at $275,000. Institutional investors and hedge funds own 42.20% of the company’s stock.

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About Achaogen (NASDAQ:AKAO)

Achaogen, Inc, a late-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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