It is trading at $13.35 significantly lower than $15.48, the 50 day moving average and which is much lower than the 200 day moving average of $20.07. The 50 day moving average went down by -13.79% and the 200 day average went down by -33.47%. Trading was light with 1,142K shares changing hands by the end of trading on Tuesday. Trading volume was down 2.71% under the stocks average daily volume.
Traders are more bearish on the company recently if you watch the increase in short interest. The stock realized a rise in short interest of 1.87% as of September 29, 2017 from the last reporting period. Short interest grew 138,584 over that timeframe. Days to cover increased from 11.0 to 13.0 and the percentage of shorted shares is 0.20% as of September 29.
Here is a rundown on some insider market activity for Achaogen, Inc. (NASDAQ:AKAO). Blake Wise, President & COO disclosed the sale of 3,576 shares of (AKAO). The shares were purchased at an average price of $15.99. The President & COO now owns $1,057,115 of the stock according to the SEC filing. General Counsel Gary Loeb sold 1,146 shares at an average price of $15.99 on September 26th. The General Counsel now owns $213,195 of the stock as reported to the SEC.
The following firms have recently changed their position in AKAO. As of the end of the quarter Foresite Capital Management Iii, LLC had acquired a total of 4,813 shares growing its position 0.4%. The value in dollars went from $31,416,000 to $27,163,000 a change of 13.5% quarter to quarter. Point72 Asset Management, L.p. added to its position by buying 878,029 shares an increase of 153.8% as of 06/30/2017. Point72 Asset Management, L.p. controls 1,449,000 shares with a value of $31,487,000. The value of the position overall is up by 118.6%.
As of quarter end Hartwell J M Limited Partnership had sold 14,000 shares trimming its holdings by 50.0%. The value of the investment in (AKAO) decreased from $608,000 to $223,000 decreasing 63.3% since the last quarter. Cutler Group LP divested its stake by shedding 200 shares a decrease of 50.0% from 06/30/2017 to 09/30/2017. Cutler Group LP owns 200 shares worth $3,000. The total value of its holdings decreased 62.5%.
On September 7, 2017 Empire Asset Management starting coverage on the stock giving it an initial rating of “Sell”. Equity analyst Mizuho started covering the stock with an initial rating of “Buy”.
As of the last earnings report the EPS was $-3.10 and is expected to be $-3.01 for the current year with 42,233,000 shares outstanding. Analysts expect next quarter’s EPS to be $-0.73 with next year’s EPS projected to be $-2.79.
Achaogen, Inc., launched on November 26, 2002, is a late-stage biopharmaceutical company. The Company is involved 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). Plazomicin is an intravenous aminoglycoside antibiotic. The Company has developed plazomicin by chemically modifying sisomicin, a naturally occurring aminoglycoside, in order to overcome common aminoglycoside resistance mechanisms..