Achaogen, Inc. (AKAO) Short Interest Update

Achaogen, Inc. (NASDAQ:AKAO) saw a large increase in short interest in June. As of June 30th, there was short interest totalling 6,163,446 shares, an increase of 55.2% from the June 15th total of 3,970,560 shares. Currently, 24.2% of the shares of the stock are short sold. Based on an average daily volume of 1,233,021 shares, the short-interest ratio is presently 5.0 days.

Shares of Achaogen (NASDAQ AKAO) traded down 2.91% during mid-day trading on Friday, hitting $17.71. 1,050,372 shares of the stock traded hands. The stock’s market cap is $634.96 million. Achaogen has a 52 week low of $3.60 and a 52 week high of $27.79. The firm’s 50-day moving average is $22.16 and its 200-day moving average is $22.18.

Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by $0.18. The company had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $2.69 million. Achaogen had a negative net margin of 281.88% and a negative return on equity of 118.04%. The business’s revenue for the quarter was down 85.7% compared to the same quarter last year. During the same period last year, the company posted ($0.87) EPS. On average, analysts forecast that Achaogen will post ($2.57) earnings per share for the current year.

In other news, CFO Tobin Schilke sold 2,066 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $21.53, for a total value of $44,480.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 13.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in AKAO. Legal & General Group Plc acquired a new position in shares of Achaogen during the second quarter worth approximately $168,000. Bank of Montreal Can increased its position in shares of Achaogen by 25.0% in the first quarter. Bank of Montreal Can now owns 7,500 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,500 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Achaogen during the first quarter worth approximately $199,000. Sigma Planning Corp increased its position in shares of Achaogen by 9.6% in the second quarter. Sigma Planning Corp now owns 9,450 shares of the biopharmaceutical company’s stock worth $205,000 after buying an additional 825 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Achaogen during the first quarter worth approximately $240,000. Institutional investors own 69.73% of the company’s stock.

AKAO has been the subject of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price objective (up previously from $28.00) on shares of Achaogen in a report on Tuesday, May 9th. BidaskClub lowered shares of Achaogen from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Cowen and Company reiterated an “outperform” rating on shares of Achaogen in a report on Monday, May 15th. ValuEngine upgraded shares of Achaogen from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, HC Wainwright initiated coverage on shares of Achaogen in a report on Thursday, June 15th. They issued a “buy” rating and a $29.00 price objective for the company. One research 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.88.

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Achaogen Company Profile

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).