Akebia Therapeutics Inc. (NASDAQ:AKBA) marked $0.71 per share on Monday, down from a previous closing price of $0.74. While Akebia Therapeutics Inc. has underperformed by -3.61%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AKBA fell by -65.18%, with highs and lows ranging from $2.93 to $0.24, whereas the simple moving average jumped by 81.29% 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 0.40%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Akebia Therapeutics Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -348.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, 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.
An average volume of 1.72M can be a very valuable indicator of volatility for AKBA stock. On a monthly basis, the volatility of the stock is set at 10.24%, whereas on a weekly basis, it is put at 7.72%, with a gain of 2.20% over the past seven days. Furthermore, long-term investors anticipate a median target price of $1.62, showing growth from the present price of $0.71, 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?
In addition to the fundamentals, you should also consider how many employees own shares in 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 0.20%. 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 29.20% 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 decreased by -18.99% in the first quarter. The company now owns 13,122,868 shares of the stock, with a value of $7.57 million, following the sale of -3,076,239 additional shares during the last quarter. Acadian Asset Management LLC made another increased to its shares in AKBA during the first quarter, upping its stake by 1.96%. During the last quarter, the company dropped down 144,010 additional shares for a total stake of worth $4.32 million, bringing number of shares owned by the company to 7,483,053.
During the first quarter, BlackRock Fund Advisors subtracted a -50,635 position in AKBA. Millennium Management LLC sold an additional -1.87 million shares in the last quarter, decreasing its holdings by -34.99%, now holding 3.48 million shares worth $2.01 million. At the end of the first quarter, Renaissance Technologies LLC increased its AKBA holdings by 103.50% and now holds 3.02 million AKBA shares valued at $1.74 million with the added 1.53 million shares during the period. AKBA shares are owned by institutional investors to the tune of 29.20% at present.
