Is Akebia Therapeutics Inc (AKBA) A Good Stock To Buy?

Judging by the fact that Akebia Therapeutics Inc (NASDAQ:AKBA) has faced falling interest from the smart money, we can see that there exists a select few hedgies who were dropping their entire stakes heading into Q4. Intriguingly, Peter A. Wright’s PAW Capital Partners sold off the largest position of all the hedgies watched by Insider Monkey, valued at about $0.3 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund said goodbye to about $0.2 million worth of shares.

Let’s also examine hedge fund activity in other stocks similar to Akebia Therapeutics Inc (NASDAQ:AKBA). These stocks are RadNet Inc. (NASDAQ:RDNT), Corvus Pharmaceuticals Inc (NASDAQ:CRVS), Natural Resource Partners LP (NYSE:NRP), and Arlington Asset Investment Corp (NYSE:AI). This group of stocks’ market valuations resemble AKBA’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
RDNT 8 38660 -1
CRVS 5 105640 0
NRP 5 6188 5
AI 6 12969 1

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $41 million. That figure was $45 million in AKBA’s case. RadNet Inc. (NASDAQ:RDNT) is the most popular stock in this table. On the other hand Corvus Pharmaceuticals Inc (NASDAQ:CRVS) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Akebia Therapeutics Inc (NASDAQ:AKBA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None