Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan acquired 50,000 shares of Achaogen stock in a transaction on Friday, March 9th. The shares were purchased at an average cost of $11.41 per share, with a total value of $570,500.00. Following the completion of the acquisition, the insider now owns 6,255,148 shares of the company’s stock, valued at approximately $71,371,238.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Achaogen Inc (AKAO) traded down $0.24 during trading on Tuesday, hitting $11.50. The stock had a trading volume of 1,172,807 shares, compared to its average volume of 1,120,000. Achaogen Inc has a 52-week low of $9.83 and a 52-week high of $27.79. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $500.31, a price-to-earnings ratio of -3.62 and a beta of 1.28.
Achaogen (NASDAQ:AKAO) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.98) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.21). Achaogen had a negative return on equity of 83.14% and a negative net margin of 1,124.10%. The company had revenue of $1.87 million during the quarter, compared to the consensus estimate of $1.18 million. research analysts forecast that Achaogen Inc will post -3.44 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new position in shares of Achaogen in the fourth quarter worth $151,000. Clear Harbor Asset Management LLC bought a new position in shares of Achaogen in the fourth quarter worth $177,000. Ellington Management Group LLC bought a new position in shares of Achaogen in the fourth quarter worth $177,000. Tower Research Capital LLC TRC boosted its holdings in shares of Achaogen by 375.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,648 shares of the biopharmaceutical company’s stock worth $201,000 after acquiring an additional 14,725 shares during the period. Finally, California Public Employees Retirement System bought a new position in shares of Achaogen in the second quarter worth $243,000. 77.37% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on AKAO shares. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Achaogen in a report on Wednesday, January 10th. Zacks Investment Research raised Achaogen from a “sell” rating to a “hold” rating in a report on Monday, December 11th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective (down from $29.00) on shares of Achaogen in a report on Wednesday, February 28th. HC Wainwright increased their price objective on Achaogen from $25.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus reduced their price objective on Achaogen from $27.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $24.10.
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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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