Akebia Shares Bounce 12% After Volatile Session
Akebia Therapeutics shares rallied in late U.S. trading Wednesday, clawing back after falling for two straight sessions. Investors moved into select smaller biotech stocks. Akebia was last at $1.01, up roughly 12%. Shares earlier dipped to an intraday low of 89.32 cents. AKBA’s trading looks less like a reaction to earnings and more like a bet on Vafseo, its new anemia drug. Shares finished Monday at $1.01, then slipped to 90 cents on Tuesday, according to LSEG data on the company’s investor page.