Bank of New York Mellon Corp boosted its holdings in shares of Akcea Therapeutics Inc (NASDAQ:AKCA) by 14.3% during the fourth quarter, HoldingsChannel reports. The firm owned 61,093 shares of the company’s stock after purchasing an additional 7,635 shares during the period. Bank of New York Mellon Corp’s holdings in Akcea Therapeutics were worth $1,842,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. MetLife Investment Advisors LLC bought a new stake in shares of Akcea Therapeutics in the 3rd quarter valued at $394,000. Teachers Advisors LLC grew its position in Akcea Therapeutics by 9.5% in the 3rd quarter. Teachers Advisors LLC now owns 28,746 shares of the company’s stock valued at $1,007,000 after purchasing an additional 2,489 shares during the period. Morgan Stanley grew its position in Akcea Therapeutics by 27.2% in the 3rd quarter. Morgan Stanley now owns 161,957 shares of the company’s stock valued at $5,672,000 after purchasing an additional 34,668 shares during the period. Vanguard Group Inc. grew its position in Akcea Therapeutics by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,191,511 shares of the company’s stock valued at $41,727,000 after purchasing an additional 31,714 shares during the period. Finally, Vanguard Group Inc grew its position in Akcea Therapeutics by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 1,191,511 shares of the company’s stock valued at $41,727,000 after purchasing an additional 31,714 shares during the period. Institutional investors own 26.17% of the company’s stock.
NASDAQ AKCA opened at $26.97 on Tuesday. Akcea Therapeutics Inc has a 12-month low of $17.74 and a 12-month high of $40.75. The firm has a market capitalization of $2.41 billion, a P/E ratio of -9.84 and a beta of 1.62.
Akcea Therapeutics (NASDAQ:AKCA) last posted its quarterly earnings results on Tuesday, February 26th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.09). Akcea Therapeutics had a negative net margin of 348.13% and a negative return on equity of 90.80%. The business had revenue of $10.20 million during the quarter, compared to analyst estimates of $17.76 million. During the same period in the previous year, the business posted ($0.35) EPS. The business’s revenue for the quarter was down 53.0% compared to the same quarter last year. Equities analysts forecast that Akcea Therapeutics Inc will post 0.06 earnings per share for the current year.
AKCA has been the subject of several research reports. ValuEngine downgraded shares of Akcea Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised shares of Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, April 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.40.
In other Akcea Therapeutics news, CEO Paula Soteropoulos sold 31,787 shares of Akcea Therapeutics stock in a transaction on Monday, April 8th. The shares were sold at an average price of $32.11, for a total transaction of $1,020,680.57. Following the transaction, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $963,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeff Marc Goldberg sold 50,000 shares of Akcea Therapeutics stock in a transaction on Monday, April 8th. The stock was sold at an average price of $31.71, for a total transaction of $1,585,500.00. Following the transaction, the chief operating officer now directly owns 32,880 shares in the company, valued at $1,042,624.80. The disclosure for this sale can be found here. Insiders have sold a total of 130,173 shares of company stock worth $4,148,407 over the last ninety days. Insiders own 3.64% of the company’s stock.
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Akcea Therapeutics Company Profile
Akcea Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs to treat patients with serious and rare diseases in the United States and internationally. The company offers TEGSEDI, which is designed to reduce the production of transthyretin protein. It develops WAYLIVRA, which has completed Phase III clinical study for the treatment of familial chylomicronemia syndrome; and that is in Phase III clinical study for the treatment of familial partial lipodystrophy.
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