The stock of Achaogen Incorporated (NASDAQ:AKAO) registered a decrease of 9.87% in short interest. AKAO’s total short interest was 311,500 shares in September as published by FINRA. Its down 9.87% from 345,600 shares, reported previously. With 48,600 shares average volume, it will take short sellers 6 days to cover their AKAO’s short positions. The short interest to Achaogen Incorporated’s float is 2.07%. About 139,836 shares traded hands or 11.70% up from the average. Achaogen Inc (NASDAQ:AKAO) has risen 30.14% since February 8, 2016 and is uptrending. It has outperformed by 13.66% the S&P500.
Achaogen, Inc. is a clinical-stage biopharmaceutical company. The company has a market cap of $118.30 million. The Firm is engaged in the discovery, development and commercialization of antibacterials to treat multi-drug resistant gram-negative infections. It currently has negative earnings. The Firm is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant enterobacteriaceae (CRE).
The institutional sentiment decreased to 1.22 in 2016 Q2. Its down 0.47, from 1.69 in 2016Q1. The ratio fall, as 8 funds sold all Achaogen Inc shares owned while 10 reduced positions. 10 funds bought stakes while 12 increased positions. They now own 13.87 million shares or 102.18% more from 6.86 million shares in 2016Q1.
Opaleye Management Inc. holds 3.03% of its portfolio in Achaogen Inc for 300,000 shares. Ecor1 Capital Llc owns 1.57 million shares or 2.35% of their US portfolio. Moreover, Sphera Funds Management Ltd. has 1.24% invested in the company for 1.26 million shares. The California-based Dafna Capital Management Llc has invested 0.94% in the stock. Nea Management Company Llc, a Maryland-based fund reported 4.72 million shares.
Out of 3 analysts covering Achaogen (NASDAQ:AKAO), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Achaogen has been the topic of 3 analyst reports since March 16, 2016 according to StockzIntelligence Inc. Wedbush upgraded the stock on June 14 to “Outperform” rating.
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