Akebia Therapeutics Inc. (NASDAQ: AKBA) stock jumped 1.12% on Friday to $1.00 against a previous-day closing price of $0.99. With 1.09 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.46 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.0485 whereas the lowest price it dropped to was $0.9901. The 52-week range on AKBA shows that it touched its highest point at $1.84 and its lowest point at $0.24 during that stretch. It currently has a 1-year price target of $4.50. Beta for the stock currently stands at 0.88.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AKBA was up-trending over the past week, with a rise of 11.98%, but this was up by 19.86% over a month. Three-month performance dropped to -18.70% while six-month performance fell -13.79%. The stock gained 296.67% in the past year, while it has gained 73.31% so far this year. A look at the trailing 12-month EPS for AKBA yields -0.33 with Next year EPS estimates of -0.29. For the next quarter, that number is -0.04. This implies an EPS growth rate of 37.25% for this year and 9.38% for next year.
Float and Shares Shorts:
At present, 184.14 million AKBA shares are outstanding with a float of 167.05 million shares on hand for trading. On Oct 30, 2023, short shares totaled 10.32 million, which was 5.48% higher than short shares on Sep 28, 2023. In addition to Mr. John P. Butler MBA as the firm’s CEO, President & Director, Mr. Michel Dahan serves as its Senior VP & COO.
Through their ownership of 28.72% of AKBA’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.93% of AKBA, in contrast to 7.92% held by mutual funds. Shares owned by individuals account for 11.01%. As the largest shareholder in AKBA with 3.96% of the stake, The Vanguard Group, Inc. holds 7,461,320 shares worth 7,461,320. A second-largest stockholder of AKBA, Acadian Asset Management LLC, holds 7,223,488 shares, controlling over 3.84% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in AKBA, holding 3,155,427 shares or 1.68% stake. With a 2.46% stake in AKBA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,623,327 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.38% of AKBA stock, is the second-largest Mutual Fund holder. It holds 2,602,859 shares valued at 2.29 million. Victory Science & Technology Fund holds 1.09% of the stake in AKBA, owning 2,046,683 shares worth 1.8 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AKBA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AKBA analysts setting a high price target of $5.00 and a low target of $4.00, the average target price over the next 12 months is $4.50. Based on these targets, AKBA could surge 400.0% to reach the target high and rise by 300.0% to reach the target low. Reaching the average price target will result in a growth of 350.0% from current levels.
Summary of Insider Activity:
Insiders traded AKBA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 1,965,525 while 502,922 shares were sold.