Achaogen (AKAO) Stock Price Down 10%

Shares of Achaogen Inc (NASDAQ:AKAO) were down 10% during trading on Friday . The company traded as low as $0.68 and last traded at $0.63. Approximately 6,648 shares changed hands during trading, a decline of 100% from the average daily volume of 1,544,229 shares. The stock had previously closed at $0.70.

A number of analysts recently commented on AKAO shares. Mizuho reiterated a “hold” rating and set a $3.00 price objective on shares of Achaogen in a research report on Friday, February 15th. ValuEngine cut Achaogen from a “hold” rating to a “sell” rating in a research report on Monday, December 17th. HC Wainwright reiterated a “hold” rating and set a $2.00 price objective on shares of Achaogen in a research report on Thursday, February 21st. Wedbush cut Achaogen from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $17.00 to $3.00 in a research report on Monday, November 12th. Finally, SunTrust Banks reiterated a “hold” rating and set a $3.00 price objective (down previously from $10.00) on shares of Achaogen in a research report on Tuesday, November 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Achaogen presently has an average rating of “Hold” and a consensus target price of $8.17.

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The company has a debt-to-equity ratio of 1.00, a current ratio of 2.54 and a quick ratio of 2.52. The firm has a market cap of $33.67 million, a P/E ratio of -0.20 and a beta of 1.04.

In other Achaogen news, major shareholder Robert W. Duggan purchased 743,348 shares of the stock in a transaction on Tuesday, December 11th. The stock was bought at an average price of $1.62 per share, for a total transaction of $1,204,223.76. Following the acquisition, the insider now directly owns 8,880,461 shares of the company’s stock, valued at $14,386,346.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 8,011 shares of company stock valued at $7,506 in the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in Achaogen by 42.9% in the 4th quarter. Rhumbline Advisers now owns 41,268 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 12,383 shares during the period. Paloma Partners Management Co acquired a new position in shares of Achaogen in the 3rd quarter valued at about $174,000. Bank of Nova Scotia lifted its stake in shares of Achaogen by 900.0% in the 4th quarter. Bank of Nova Scotia now owns 50,000 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 45,000 shares in the last quarter. First Midwest Bank Trust Division acquired a new position in shares of Achaogen in the 4th quarter valued at about $69,000. Finally, Jefferies Group LLC acquired a new position in shares of Achaogen in the 3rd quarter valued at about $275,000. Institutional investors own 43.27% of the company’s stock.

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About Achaogen (NASDAQ:AKAO)

Achaogen, Inc, a late-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections in the United States. The company is principally developing plazomicin for the treatment of serious bacterial infections, including urinary tract infections, blood stream infections, and other infections due to MDR enterobacteriaceae comprising carbapenem-resistant enterobacteriaceae.

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