Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of $10.96 per share, for a total transaction of $109,600.00. Following the completion of the purchase, the insider now directly owns 5,668,310 shares in the company, valued at $62,124,677.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Achaogen Inc (AKAO) opened at $10.92 on Friday. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.08. The company has a market cap of $462.94, a price-to-earnings ratio of -3.03 and a beta of 1.27. Achaogen Inc has a one year low of $9.83 and a one year high of $27.79.
AKAO has been the topic of several research analyst reports. Guggenheim initiated coverage on shares of Achaogen in a research note on Tuesday, October 24th. They set a “buy” rating and a $17.00 price target on the stock. Zacks Investment Research upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a research note on Monday, December 11th. Mizuho reiterated a “buy” rating and set a $28.00 price target on shares of Achaogen in a research note on Thursday, November 9th. HC Wainwright lifted their price target on shares of Achaogen from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Stifel Nicolaus cut their price target on shares of Achaogen from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Achaogen currently has an average rating of “Buy” and an average target price of $25.62.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Ardsley Advisory Partners acquired a new position in Achaogen in the second quarter valued at $217,000. JPMorgan Chase & Co. increased its stake in Achaogen by 691.2% in the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 9,677 shares during the period. California Public Employees Retirement System acquired a new position in Achaogen in the second quarter valued at $243,000. Voya Investment Management LLC acquired a new position in Achaogen in the second quarter valued at $295,000. Finally, MetLife Investment Advisors LLC acquired a new position in Achaogen in the fourth quarter valued at $151,000. Institutional investors own 86.56% of the company’s stock.
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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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