Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Akebia Therapeutics Inc. shares valued at $116,760 were sold by Dahan Michel on May 25. At $1.22 per share, Dahan Michel sold 95,478 shares. The insider’s holdings dropped to 574,037 shares worth approximately $0.69 million following the completion of this transaction.
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Also, Hadas Nicole R. sold 63,186 shares, netting a total of over 77,270 in proceeds. Following the sale of shares at $1.22 each, the insider now holds 524,344 shares.
Before that, Burke Steven Keith had sold 63,567 shares from its account. In a trade valued at $67,890, the SVP, Chief Medical Officer traded Akebia Therapeutics Inc. shares for $1.07 each. Upon closing the transaction, the insider’s holdings decreased to 63,567 shares, worth approximately $0.64 million.
Analyzing AKBA Stock Performance
On Thursday, Akebia Therapeutics Inc. [NASDAQ: AKBA] plunged -15.38% to $1.21. The stock’s lowest price that day was $1.14, but it reached a high of $1.40 in the same session. During the last five days, there has been a surge of approximately 11.01%. Over the course of the year, Akebia Therapeutics Inc. shares have jumped approximately 109.71%. Shares of the company reached a 52-week high of $1.6300 on 05/22/23 and a 52-week low of $0.4901 on 04/05/23. A 50-day SMA is recorded $0.8258, while a 200-day SMA reached $0.5729. Nevertheless, trading volume fell to 3.6 million shares from 1.08 million shares the previous day.
Support And Resistance Levels for Akebia Therapeutics Inc. (AKBA)
According to the 24-hour chart, there is a support level at 1.1000, which, if violated, would cause prices to drop to 0.9900. In the upper region, resistance lies at 1.3600. The next price resistance is at 1.5100. RSI (Relative Strength Index) is 59.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.1798, which suggests the price will decrease in the coming days. Percent R is at 61.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Akebia Therapeutics Inc. subject to short interest?
Stocks of Akebia Therapeutics Inc. saw a sharp steep in short interest on Apr 27, 2023 dropping by -1.16 million shares to 4.5 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 5.66 million shares. A decline of -25.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.97 of the overall float, the days-to-cover ratio (short ratio) decline to 3.97.
Which companies own the most shares of Akebia Therapeutics Inc. (AKBA)?
According to The Vanguard Group, Inc. filings, the company currently owns 12,450,907 shares, which is about 6.76% of the total AKBA shares outstanding. The investor’s shares have appreciated by 1,272,034 from its previous 13-F filing of 11178873.0 shares. BlackRock Fund Advisors reduced a -2.60% interest valued at $2.41 million while Renaissance Technologies LLC sold a -547,727 stake. A total of 0 shares of Akebia Therapeutics Inc. were sold by Geode Capital Management LLC during the quarter, and -816,043 were sold by Jacobs Levy Equity Management, In. In its current portfolio, Federated MDTA LLC holds 1,020,032 shares valued at $0.93 million.
In terms of Akebia Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $2.00 in the next 12 months, up nearly 39.86% from the previous closing price of $1.43. Analysts anticipate Akebia Therapeutics Inc. stock to reach $2.00 by 2023, with the lowest price target being $2.00. In spite of this, 3 analysts ranked Akebia Therapeutics Inc. stock as a Hold at the end of 2023.