Wells Fargo & Company MN lifted its stake in shares of Achaogen, Inc. (NASDAQ:AKAO) by 21,593.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,730 shares of the biopharmaceutical company’s stock after purchasing an additional 24,616 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Achaogen worth $538,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AKAO. Legal & General Group Plc acquired a new position in shares of Achaogen during the 2nd quarter worth $168,000. Sigma Planning Corp grew its stake in Achaogen by 9.6% in the 2nd quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock valued at $205,000 after acquiring an additional 825 shares during the last quarter. Bank of Montreal Can grew its stake in Achaogen by 33.3% in the 2nd quarter. Bank of Montreal Can now owns 10,000 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 2,500 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Achaogen by 691.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 9,677 shares during the last quarter. Finally, Credit Suisse AG acquired a new stake in Achaogen in the 1st quarter valued at about $314,000. 84.18% of the stock is currently owned by institutional investors and hedge funds.
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AKAO has been the topic of a number of research reports. Zacks Investment Research raised shares of Achaogen from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research note on Monday, July 17th. BidaskClub cut shares of Achaogen from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective on shares of Achaogen in a research note on Friday, August 4th. Mizuho initiated coverage on shares of Achaogen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Leerink Swann reissued an “outperform” rating and issued a $22.00 price objective (down from $28.00) on shares of Achaogen in a research note on Monday, October 9th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Achaogen has a consensus rating of “Buy” and an average price target of $25.78.
In other Achaogen news, COO Blake Wise sold 3,576 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.36% of the stock is currently owned by corporate insiders.
Achaogen, Inc. (AKAO) opened at $13.29 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.99 and a quick ratio of 8.37. Achaogen, Inc. has a 1-year low of $4.26 and a 1-year high of $27.79.
Achaogen (NASDAQ:AKAO) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.13). The firm had revenue of $0.58 million during the quarter, compared to analysts’ expectations of $2.09 million. Achaogen had a negative net margin of 593.61% and a negative return on equity of 80.44%. Achaogen’s revenue for the quarter was down 96.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.41) earnings per share. equities research analysts expect that Achaogen, Inc. will post -2.97 EPS for the current 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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