Candriam Luxembourg S.C.A. lessened its stake in shares of Achaogen, Inc. (NASDAQ:AKAO) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,555 shares of the biopharmaceutical company’s stock after selling 18,000 shares during the period. Candriam Luxembourg S.C.A. owned 0.43% of Achaogen worth $2,912,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Midwest Bank Trust Division boosted its holdings in shares of Achaogen by 125.8% during the 3rd quarter. First Midwest Bank Trust Division now owns 46,036 shares of the biopharmaceutical company’s stock valued at $734,000 after purchasing an additional 25,648 shares during the last quarter. Ardsley Advisory Partners bought a new position in shares of Achaogen during the 2nd quarter valued at about $217,000. Lord Abbett & CO. LLC boosted its holdings in shares of Achaogen by 153.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 435,953 shares of the biopharmaceutical company’s stock valued at $9,473,000 after purchasing an additional 263,799 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Achaogen during the 2nd quarter valued at about $1,117,000. Finally, Bank of Nova Scotia bought a new position in shares of Achaogen during the 2nd quarter valued at about $1,740,000. 83.81% of the stock is owned by institutional investors and hedge funds.
In related news, COO Blake Wise sold 3,576 shares of the stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total value of $57,180.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.36% of the stock is currently owned by company insiders.
AKAO has been the subject of several research reports. Mizuho reissued a “buy” rating and set a $28.00 price objective on shares of Achaogen in a report on Thursday, September 28th. Stifel Nicolaus dropped their price objective on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, November 9th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Achaogen in a report on Thursday, November 9th. Guggenheim initiated coverage on shares of Achaogen in a report on Tuesday, October 24th. They set a “buy” rating and a $17.00 price objective for the company. Finally, BidaskClub downgraded shares of Achaogen from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $25.78.
Achaogen, Inc. (NASDAQ AKAO) opened at $11.69 on Thursday. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.08. Achaogen, Inc. has a 1-year low of $4.67 and a 1-year high of $27.79.
Achaogen (NASDAQ:AKAO) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.13). Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. The business had revenue of $0.58 million during the quarter, compared to the consensus estimate of $2.09 million. During the same period in the previous year, the business posted ($0.41) EPS. The firm’s revenue was down 96.4% on a year-over-year basis. sell-side analysts expect that Achaogen, Inc. will post -3.16 EPS for the current fiscal year.
Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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