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Watch for Continued Losses in Shares of Akebia Therapeut (AKBA)

By David Diaz

Akebia Therapeut (NASDAQ:AKBA) traded today at a new 52-week low of $4.03. Approximately 192,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

Akebia Therapeut share prices have moved between a 52-week high of $10.73 and the current low of $4.03 and are currently at $4.03 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 2.4%.

Akebia Therapeut has overhead space with shares priced $4.03, or 82.0% below the average consensus analyst price target of $22.38. The stock should run into initial resistance at its 50-day moving average (MA) of $4.82 and subsequent resistance at its 200-day MA of $6.68.

Akebia Therapeutics, Inc., a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology.

SmarTrend recommended that its subscribers protect gains by selling shares of Akebia Therapeut on April 4th, 2019 by issuing a Downtrend alert when the shares were trading at $7.10. Since that call, shares of Akebia Therapeut have fallen 43.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows akebia therapeut

Ticker(s): AKBA