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Unusual Put Option Trade in Akebia Therapeutics Worth $304K
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On February 10, 2023 at 11:18:57 (ET) an unusually large $304.00K block of Put contracts in Akebia Therapeutics (AKBA) was bought, with a strike price of $2.50 / share, expiring in 35 days (on March 17, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.43 sigmas above the mean, placing it in the percentile of all recent large trades made in AKBA options.
Analyst Price Forecast Suggests 47.99% Upside
As of February 9, 2023, the average one-year price target for Akebia Therapeutics is $1.66. The forecasts range from a low of $1.26 to a high of $2.10. The average price target represents an increase of 47.99% from its latest reported closing price of $1.12.
The projected annual revenue for Akebia Therapeutics is $203MM, a decrease of 31.53%. The projected annual EPS is -$0.46.
What is the Fund Sentiment?
There are 134 funds or institutions reporting positions in Akebia Therapeutics. This is a decrease of 83 owner(s) or 38.25% in the last quarter. Average portfolio weight of all funds dedicated to AKBA is 0.01%, a decrease of 24.14%. Total shares owned by institutions decreased in the last three months by 18.42% to 52,341K shares. The put/call ratio of AKBA is 0.06, indicating a bullish outlook.
What are large shareholders doing?
Acadian Asset Management holds 7,483K shares representing 4.07% ownership of the company. In it’s prior filing, the firm reported owning 7,339K shares, representing an increase of 1.92%. The firm decreased its portfolio allocation in AKBA by 2.40% over the last quarter.
VEXPX – VANGUARD EXPLORER FUND Investor Shares holds 4,698K shares representing 2.55% ownership of the company. No change in the last quarter.
Satter Management Co. holds 4,653K shares representing 2.53% ownership of the company. No change in the last quarter.
Millennium Management holds 3,481K shares representing 1.89% ownership of the company. In it’s prior filing, the firm reported owning 5,354K shares, representing a decrease of 53.82%. The firm decreased its portfolio allocation in AKBA by 44.50% over the last quarter.
Renaissance Technologies holds 3,016K shares representing 1.64% ownership of the company. In it’s prior filing, the firm reported owning 1,482K shares, representing an increase of 50.86%. The firm increased its portfolio allocation in AKBA by 117.98% over the last quarter.
Akebia Therapeutics Background Information
(This description is provided by the company.)
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease. The Company was founded in 2007 and is headquartered in Cambridge, Massachusetts.
This article originally appeared on Fintel
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