Achaogen Inc (AKAO) Major Shareholder Robert W. Duggan Acquires 22,431 Shares

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Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan purchased 22,431 shares of Achaogen stock in a transaction dated Friday, December 7th. The shares were acquired at an average cost of $1.40 per share, with a total value of $31,403.40. Following the transaction, the insider now directly owns 8,443,961 shares in the company, valued at $11,821,545.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Achaogen stock traded up $0.05 during midday trading on Tuesday, hitting $1.73. The stock had a trading volume of 1,752,000 shares, compared to its average volume of 1,103,700. The firm has a market capitalization of $64.11 million, a price-to-earnings ratio of -0.55 and a beta of 0.55. Achaogen Inc has a 52-week low of $1.36 and a 52-week high of $15.00. The company has a current ratio of 2.54, a quick ratio of 2.52 and a debt-to-equity ratio of 1.00.

Several equities research analysts have recently commented on the stock. SunTrust Banks reduced their price target on shares of Achaogen from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 20th. ValuEngine raised shares of Achaogen from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Zacks Investment Research lowered shares of Achaogen from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Mizuho reaffirmed a “neutral” rating and set a $8.00 price target on shares of Achaogen in a research report on Tuesday, November 6th. Finally, Cowen lowered shares of Achaogen from an “outperform” rating to a “market perform” rating in a research report on Friday, November 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.25.

A number of institutional investors have recently added to or reduced their stakes in AKAO. Paloma Partners Management Co purchased a new stake in Achaogen in the 3rd quarter worth approximately $174,000. Jefferies Group LLC purchased a new stake in Achaogen in the 3rd quarter worth approximately $275,000. Point72 Asset Management L.P. purchased a new stake in Achaogen in the 3rd quarter worth approximately $399,000. Sei Investments Co. purchased a new stake in Achaogen in the 2nd quarter worth approximately $423,000. Finally, Gamco Investors INC. ET AL increased its holdings in Achaogen by 84.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 174,400 shares of the biopharmaceutical company’s stock worth $696,000 after acquiring an additional 79,700 shares in the last quarter. 45.59% of the stock is owned by institutional investors.

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Achaogen Company Profile

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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