Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Akcea Therapeutics Inc (NASDAQ:AKCA) by 62.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,399 shares of the company’s stock after selling 2,301 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Akcea Therapeutics were worth $33,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Quantamental Technologies LLC bought a new position in shares of Akcea Therapeutics in the 1st quarter valued at $74,000. BNP Paribas Arbitrage SA grew its position in Akcea Therapeutics by 842.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,165 shares of the company’s stock worth $90,000 after acquiring an additional 2,829 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Akcea Therapeutics during the 1st quarter worth $106,000. SG Americas Securities LLC grew its position in Akcea Therapeutics by 47.6% during the 1st quarter. SG Americas Securities LLC now owns 5,677 shares of the company’s stock worth $161,000 after acquiring an additional 1,831 shares during the last quarter. Finally, Menta Capital LLC bought a new stake in Akcea Therapeutics during the 1st quarter worth $306,000. Institutional investors own 24.51% of the company’s stock.
A number of equities research analysts recently weighed in on the company. BMO Capital Markets set a $43.00 price objective on Akcea Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, August 9th. Finally, ValuEngine upgraded Akcea Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $36.00.
In other Akcea Therapeutics news, President Sarah Boyce sold 1,819 shares of Akcea Therapeutics stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $23.52, for a total transaction of $42,782.88. Following the transaction, the president now directly owns 19,888 shares of the company’s stock, valued at approximately $467,765.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.
AKCA traded down $0.31 during midday trading on Friday, hitting $21.41. 4,237 shares of the company were exchanged, compared to its average volume of 211,637. The firm has a market capitalization of $2.02 billion, a P/E ratio of -8.11 and a beta of 1.55. Akcea Therapeutics Inc has a 1-year low of $19.08 and a 1-year high of $37.73. The firm’s 50 day moving average price is $22.23 and its 200-day moving average price is $25.18. The company has a quick ratio of 6.32, a current ratio of 6.48 and a debt-to-equity ratio of 0.04.
Akcea Therapeutics (NASDAQ:AKCA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.02). The company had revenue of $26.62 million for the quarter, compared to analyst estimates of $25.78 million. Akcea Therapeutics had a negative return on equity of 43.87% and a negative net margin of 65.62%. The firm’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.85) earnings per share. On average, sell-side analysts predict that Akcea Therapeutics Inc will post -1.21 earnings per share for the current fiscal year.
About Akcea Therapeutics
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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