Engineers Gate Manager LP increased its holdings in shares of Achaogen (NASDAQ:AKAO) by 154.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 97,817 shares of the biopharmaceutical company’s stock after purchasing an additional 59,422 shares during the period. Engineers Gate Manager LP owned 0.22% of Achaogen worth $1,267,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Achaogen by 2.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 331,039 shares of the biopharmaceutical company’s stock valued at $3,555,000 after purchasing an additional 9,267 shares in the last quarter. Quantitative Investment Management LLC bought a new position in shares of Achaogen during the fourth quarter valued at approximately $1,433,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Achaogen by 12.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 137,716 shares of the biopharmaceutical company’s stock valued at $1,480,000 after purchasing an additional 15,032 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Achaogen by 307.3% during the fourth quarter. Deutsche Bank AG now owns 517,221 shares of the biopharmaceutical company’s stock valued at $5,553,000 after purchasing an additional 390,241 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Achaogen by 9.3% during the fourth quarter. Alliancebernstein L.P. now owns 117,400 shares of the biopharmaceutical company’s stock valued at $1,261,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.
NASDAQ AKAO opened at $12.45 on Monday. Achaogen has a 12-month low of $9.83 and a 12-month high of $26.50. The company has a quick ratio of 7.01, a current ratio of 7.01 and a debt-to-equity ratio of 0.24.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Friday, May 4th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.17). The company had revenue of $2.14 million during the quarter, compared to analysts’ expectations of $1.25 million. Achaogen had a negative return on equity of 97.86% and a negative net margin of 2,384.08%. equities research analysts predict that Achaogen will post -3.43 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on AKAO shares. Zacks Investment Research downgraded shares of Achaogen from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. HC Wainwright reiterated a “buy” rating and set a $29.00 price objective (up from $19.00) on shares of Achaogen in a research note on Monday, April 30th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Achaogen in a research report on Monday, April 30th. BidaskClub raised shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Stifel Nicolaus decreased their target price on shares of Achaogen from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Achaogen currently has an average rating of “Buy” and an average target price of $22.67.
In related news, major shareholder Robert W. Duggan bought 527,396 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were acquired at an average price of $10.31 per share, for a total transaction of $5,437,452.76. Following the completion of the transaction, the insider now directly owns 5,697,752 shares in the company, valued at $58,743,823.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth J. Hillan sold 4,606 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $10.67, for a total transaction of $49,146.02. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,545,730 shares of company stock worth $29,680,700 and have sold 10,989 shares worth $124,967. 7.80% of the stock is currently owned by company insiders.
Achaogen, Inc, a late-stage biopharmaceutical company, focusses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.
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