Wellington Management Group LLP Invests $63.37 Million in Aktis Oncology $AKTS

Wellington Management Group LLP purchased a new stake in shares of Aktis Oncology (NASDAQ:AKTS) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,966,244 shares of the technology company’s stock, valued at approximately $63,372,000.

Several other large investors have also recently added to or reduced their stakes in AKTS. State of Wyoming acquired a new stake in shares of Aktis Oncology during the 2nd quarter worth approximately $32,000. Deutsche Bank AG raised its stake in shares of Aktis Oncology by 49.3% in the second quarter. Deutsche Bank AG now owns 21,022 shares of the technology company’s stock valued at $678,000 after purchasing an additional 6,942 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Aktis Oncology in the second quarter worth $1,406,000. The Manufacturers Life Insurance Company boosted its stake in Aktis Oncology by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 48,044 shares of the technology company’s stock worth $1,548,000 after buying an additional 1,051 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Aktis Oncology by 14.8% during the second quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company’s stock worth $1,587,000 after buying an additional 6,349 shares in the last quarter. Institutional investors and hedge funds own 28.84% of the company’s stock.

Wall Street Analyst Weigh In

AKTS has been the subject of a number of recent research reports. Wall Street Zen cut shares of Aktis Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. BMO Capital Markets started coverage on shares of Aktis Oncology in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $37.00 target price on the stock. Raymond James Financial assumed coverage on shares of Aktis Oncology in a research report on Monday, June 15th. They issued a “strong-buy” rating and a $40.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Aktis Oncology from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Wedbush assumed coverage on Aktis Oncology in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Aktis Oncology Stock Performance

Shares of NASDAQ AKTS opened at $26.92 on Thursday. Aktis Oncology has a 52-week low of $14.72 and a 52-week high of $34.19. The business has a fifty day moving average of $25.78 and a two-hundred day moving average of $21.69. The stock has a market cap of $1.45 billion and a PE ratio of -32.83.

Aktis Oncology (NASDAQ:AKTS) last posted its earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The firm had revenue of $3.38 million for the quarter, compared to analyst estimates of $2.70 million. Analysts predict that Aktis Oncology will post -1.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ken Herrmann sold 4,856 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $24.56, for a total transaction of $119,263.36. Following the completion of the sale, the director owned 3,506 shares of the company’s stock, valued at approximately $86,107.36. This trade represents a 58.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.30% of the company’s stock.

Aktis Oncology Profile

Aktis Oncology (NASDAQ: AKTS) is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company’s activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.