Todays Report: The Versant Venture Management LLC Holds Position in Achaogen Inc. (AKAO)

The Versant Venture Management LLC Holds Position in Achaogen Inc. (AKAO)

Versant Venture Management LLC held its stake in Achaogen Inc. (NASDAQ:AKAO) during the second quarter, Holdings Channel reports. The institutional investor owned 1,281,152 shares of the biopharmaceutical company’s stock at the end of the second quarter. Achaogen makes up 4.9% of Versant Venture Management LLC’s holdings, making the stock its 4th largest position. Versant Venture Management LLC owned 0.07% of Achaogen worth $4,856,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AKAO. Renaissance Technologies LLC increased its stake in Achaogen by 174.0% in the first quarter. Renaissance Technologies LLC now owns 64,400 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 40,900 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Achaogen by 13.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 85,472 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 10,330 shares in the last quarter. Finally, Opaleye Management Inc. purchased a new stake in Achaogen during the first quarter worth $704,000. 56.84% of the stock is owned by institutional investors.

Achaogen Inc. (NASDAQ:AKAO) traded up 0.20% on Friday, reaching $4.93. The company’s stock had a trading volume of 301,175 shares. Achaogen Inc. has a 52-week low of $2.59 and a 52-week high of $6.24. The stock’s 50 day moving average price is $4.43 and its 200 day moving average price is $3.79. The firm’s market cap is $131.53 million.

Achaogen (NASDAQ:AKAO) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.20. Achaogen had a negative net margin of 209.23% and a negative return on equity of 118.45%. The firm had revenue of $9.14 million for the quarter, compared to analysts’ expectations of $5.58 million. During the same period in the prior year, the company earned ($0.05) EPS. The firm’s quarterly revenue was down 24.1% on a year-over-year basis. Equities research analysts expect that Achaogen Inc. will post ($2.71) earnings per share for the current fiscal year.

A number of research firms have recently weighed in on AKAO. Zacks Investment Research downgraded Achaogen from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. SunTrust Banks Inc. restated a “buy” rating and issued a $10.00 price target on shares of Achaogen in a research report on Monday, September 26th. Wedbush restated an “outperform” rating and issued a $10.00 price target on shares of Achaogen in a research report on Tuesday, September 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Achaogen in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.17.

About Achaogen

Achaogen, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant (MDR) gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).

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