Northern Trust Corp lessened its holdings in shares of Akcea Therapeutics Inc (NASDAQ:AKCA) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,019 shares of the company’s stock after selling 2,137 shares during the quarter. Northern Trust Corp owned approximately 0.21% of Akcea Therapeutics worth $5,727,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its position in shares of Akcea Therapeutics by 6.0% in the fourth quarter. BlackRock Inc. now owns 2,011,429 shares of the company’s stock valued at $60,625,000 after purchasing an additional 113,784 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Akcea Therapeutics in the fourth quarter valued at approximately $2,245,000. Morgan Stanley boosted its stake in shares of Akcea Therapeutics by 27.2% in the third quarter. Morgan Stanley now owns 161,957 shares of the company’s stock valued at $5,672,000 after buying an additional 34,668 shares during the period. Vanguard Group Inc boosted its stake in shares of Akcea Therapeutics by 2.7% in the third quarter. Vanguard Group Inc now owns 1,191,511 shares of the company’s stock valued at $41,727,000 after buying an additional 31,714 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Akcea Therapeutics by 2.7% in the third quarter. Vanguard Group Inc. now owns 1,191,511 shares of the company’s stock valued at $41,727,000 after buying an additional 31,714 shares during the period. 25.24% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Akcea Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. ValuEngine cut Akcea Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $39.40.
Akcea Therapeutics (NASDAQ:AKCA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.90). Akcea Therapeutics had a negative return on equity of 59.75% and a negative net margin of 79.88%. The business had revenue of $163.82 million for the quarter, compared to analyst estimates of $171.40 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. The business’s revenue was up 857.5% on a year-over-year basis. Sell-side analysts anticipate that Akcea Therapeutics Inc will post 0.06 earnings per share for the current year.
In other Akcea Therapeutics news, COO Jeff Marc Goldberg sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 32,880 shares in the company, valued at approximately $1,042,624.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paula Soteropoulos sold 31,787 shares of the stock in a transaction dated 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 owns 30,000 shares of the company’s stock, valued at $963,300. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,173 shares of company stock valued at $4,148,407. Company insiders own 3.64% of the company’s stock.
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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