Akebia Therapeutics Inc (NASDAQ:AKBA) shares saw an uptick in trading volume on Tuesday . 9,257,745 shares traded hands during trading, an increase of 785% from the previous session’s volume of 1,045,966 shares.The stock last traded at $8.10 and had previously closed at $7.34.

Several research firms recently weighed in on AKBA. Zacks Investment Research cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BidaskClub raised Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a report on Thursday, February 7th. Finally, ValuEngine cut Akebia Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Akebia Therapeutics presently has an average rating of “Hold” and a consensus price target of $15.04.

The firm has a market cap of $462.18 million, a price-to-earnings ratio of -4.50 and a beta of 1.46.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Akebia Therapeutics by 58.6% in the 4th quarter. Geode Capital Management LLC now owns 1,011,544 shares of the biopharmaceutical company’s stock valued at $5,593,000 after acquiring an additional 373,594 shares in the last quarter. Norges Bank acquired a new position in Akebia Therapeutics in the 4th quarter valued at $3,497,000. Dimensional Fund Advisors LP raised its holdings in Akebia Therapeutics by 107.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 942,599 shares of the biopharmaceutical company’s stock valued at $5,212,000 after acquiring an additional 488,972 shares in the last quarter. Amalgamated Bank acquired a new position in Akebia Therapeutics in the 4th quarter valued at $72,000. Finally, Legal & General Group Plc raised its holdings in Akebia Therapeutics by 123.5% in the 4th quarter. Legal & General Group Plc now owns 16,794 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 9,279 shares in the last quarter.

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Akebia Therapeutics Company Profile (NASDAQ:AKBA)

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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