As of Monday, Akebia Therapeutics Inc.’s (NASDAQ:AKBA) stock closed at $0.38, down from $0.39 the previous day. While Akebia Therapeutics Inc. has underperformed by -1.92%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AKBA fell by -84.47%, with highs and lows ranging from $3.35 to $0.30, whereas the simple moving average fell by -75.96% in the last 200 days.
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On March 31, 2022, Piper Sandler Downgraded Akebia Therapeutics Inc. (NASDAQ: AKBA) to Neutral. A report published by Needham on March 31, 2022, Downgraded its rating to ‘Hold’ for AKBA. Mizuho also Downgraded AKBA shares as ‘Neutral’, setting a target price of $2 on the company’s shares in a report dated March 31, 2022. H.C. Wainwright March 31, 2022d the rating to Neutral on March 31, 2022, and set its price target from $10 to $2. Cantor Fitzgerald initiated its ‘Overweight’ rating for AKBA, as published in its report on March 08, 2021. Needham also rated the stock as ‘Buy’.
Analysis of Akebia Therapeutics Inc. (AKBA)
Further, the quarter-over-quarter increase in sales is 18.00%, showing a positive trend in the upcoming months.
One of the most important indicators of Akebia Therapeutics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -266.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and AKBA is recording 10.61M average volume. On a monthly basis, the volatility of the stock is set at 9.77%, whereas on a weekly basis, it is put at 5.81%, with a loss of -4.60% over the past seven days. Furthermore, long-term investors anticipate a median target price of $1.62, showing growth from the present price of $0.38, which can serve as yet another indication of whether AKBA is worth investing in or should be passed over.
How Do You Analyze Akebia Therapeutics Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 49.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AKBA shares?
The recent increase in stakes in AKBA appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in AKBA has increased by 30.28% in the first quarter. The company now owns 18,359,420 shares of the stock, with a value of $6.48 million, following the purchase of 4,267,327 additional shares during the last quarter. BlackRock Fund Advisors made another decreased to its shares in AKBA during the first quarter, downing its stake by -0.18%. During the last quarter, the company dropped down -21,995 additional shares for a total stake of worth $4.34 million, bringing number of shares owned by the company to 12,291,416.
During the first quarter, SSgA Funds Management, Inc. subtracted a -255,237 position in AKBA. JPMorgan Investment Management, I sold an additional -0.17 million shares in the last quarter, decreasing its holdings by -4.39%, now holding 3.8 million shares worth $1.34 million. At the end of the first quarter, Geode Capital Management LLC decreased its AKBA holdings by -1.72% and now holds 3.15 million AKBA shares valued at $1.11 million with the lessened 55231.0 shares during the period. AKBA shares are owned by institutional investors to the tune of 49.30% at present.
