Achaogen (AKAO) Stock: Here’s What’s Happening

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Achaogen AKAO Stock News

Achaogen Inc (NASDAQ: AKAO) is flying in the market this morning. However, if you’re digging for press releases or SEC filings, you’re going to be disappointed. The company hasn’t issued any. So, what’s the deal? Today, we’ll talk about:

  • What’s going on with AKAO stock;
  • what we’re seeing from the stock; and
  • what we’ll be watching for ahead.

What’s Going On With AKAO

As mentioned above, Achaogen is having an overwhelmingly strong start to the trading session this morning, but there has been no news released. This is leaving many wondering what’s going on.

Without news, tieing down an exact catalyst for the run is difficult. However, it looks like technical traders are diving in as the picture looks pretty good.

Beyond the technical traders, we’re seeing a lot of chatter on social media about institutional owners, price target and return on equity. All of these are impressive.

In fact, at the moment, institutions own about 46.8% of the company. Over the past three months, institutions increased their positions by 29.38%.

Moreover, AKAO is sitting with a price target of $9 according to Finviz. With a current price of just $0.14, that price target represents an incredible increase in value.

Finally, as far as the return on equity chatter that’s going around, traders and investors are right. At the moment, ROE on AKAO is 2966.63%. That means that from an ROE standpoint, the company outperforms 99% of its peers.

Let’s not forget the recent FDA approval. The company is currently in the midst of commercializing ZEMDRI (plazomicin). The treatment was approved early this year as an option to treat complicated Urinary Tract Infections, or cUTI.

What We’re Seeing From The Stock 

While there is no news surrounding Achaogen at the moment, the stock is making a run for the top. Between strong technical signals and investor chatter on social, investors are clearly excited.

As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:31), AKAO is trading at $0.14 per share after a gain of $0.029 per share or 27.42% thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on AKAO. In particular, we’re interested in following the company’s work to commercialize ZEMDRI. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!

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