MetLife Investment Advisors LLC cut its holdings in Akcea Therapeutics Inc (NASDAQ:AKCA) by 34.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,356 shares of the company’s stock after selling 3,896 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Akcea Therapeutics were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of AKCA. Legal & General Group Plc grew its stake in shares of Akcea Therapeutics by 17.8% in the third quarter. Legal & General Group Plc now owns 2,237 shares of the company’s stock worth $79,000 after purchasing an additional 338 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Akcea Therapeutics in the fourth quarter worth about $116,000. Barclays PLC grew its stake in shares of Akcea Therapeutics by 106.7% in the fourth quarter. Barclays PLC now owns 6,400 shares of the company’s stock worth $193,000 after purchasing an additional 102,219 shares during the last quarter. Citigroup Inc. grew its stake in shares of Akcea Therapeutics by 338.0% in the fourth quarter. Citigroup Inc. now owns 11,300 shares of the company’s stock worth $341,000 after purchasing an additional 8,720 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Akcea Therapeutics by 9.8% in the fourth quarter. Squarepoint Ops LLC now owns 13,502 shares of the company’s stock worth $407,000 after purchasing an additional 1,202 shares during the last quarter. 26.17% of the stock is currently owned by institutional investors.
Akcea Therapeutics stock opened at $27.00 on Friday. Akcea Therapeutics Inc has a fifty-two week low of $17.74 and a fifty-two week high of $40.75.
Akcea Therapeutics (NASDAQ:AKCA) last issued its quarterly earnings results on Tuesday, February 26th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.09). Akcea Therapeutics had a negative return on equity of 90.80% and a negative net margin of 348.13%. The company had revenue of $10.20 million during the quarter, compared to the consensus estimate of $17.76 million. During the same period in the prior year, the firm earned ($0.35) earnings per share. The business’s revenue for the quarter was down 53.0% compared to the same quarter last year. On average, sell-side analysts predict that Akcea Therapeutics Inc will post 0.06 earnings per share for the current year.
In other news, CEO Paula Soteropoulos sold 31,787 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $32.11, for a total value of $1,020,680.57. Following the sale, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $963,300. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Jeff Marc Goldberg sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $31.71, for a total value of $1,585,500.00. Following the completion of the sale, 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. Over the last three months, insiders sold 130,173 shares of company stock worth $4,148,407. Insiders own 3.64% of the company’s stock.
AKCA has been the topic of several research reports. Zacks Investment Research raised Akcea Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. ValuEngine cut Akcea Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Akcea Therapeutics currently has an average rating of “Buy” and a consensus price target of $39.40.
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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