Bank of New York Mellon Corp Sells 69,607 Shares of Keryx Biopharmaceuticals (KERX)

Bank of New York Mellon Corp cut its holdings in shares of Keryx Biopharmaceuticals (NASDAQ:KERX) by 6.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 987,204 shares of the biopharmaceutical company’s stock after selling 69,607 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of Keryx Biopharmaceuticals worth $3,356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its stake in Keryx Biopharmaceuticals by 8.8% during the second quarter. BlackRock Inc. now owns 6,613,445 shares of the biopharmaceutical company’s stock worth $24,866,000 after purchasing an additional 534,831 shares during the last quarter. Bank of America Corp DE lifted its stake in Keryx Biopharmaceuticals by 57.6% during the second quarter. Bank of America Corp DE now owns 292,056 shares of the biopharmaceutical company’s stock worth $1,098,000 after purchasing an additional 106,737 shares during the last quarter. Finally, Northern Trust Corp increased its position in Keryx Biopharmaceuticals by 8.8% during the second quarter. Northern Trust Corp now owns 1,190,143 shares of the biopharmaceutical company’s stock worth $4,476,000 after buying an additional 96,580 shares during the period. 69.00% of the stock is currently owned by institutional investors.

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Several research analysts have commented on KERX shares. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Keryx Biopharmaceuticals in a research report on Friday, November 9th. BidaskClub raised Keryx Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Maxim Group reaffirmed a “hold” rating on shares of Keryx Biopharmaceuticals in a research report on Friday, November 9th. Finally, Raymond James lowered Keryx Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, November 12th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.30.

KERX opened at $3.36 on Friday. The company has a market cap of $344.00 million, a price-to-earnings ratio of -3.82 and a beta of 2.35. Keryx Biopharmaceuticals has a 52 week low of $2.47 and a 52 week high of $5.98.

In other Keryx Biopharmaceuticals news, COO Christine A. Carberry sold 10,469 shares of Keryx Biopharmaceuticals stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $3.22, for a total transaction of $33,710.18. Following the transaction, the chief operating officer now owns 100,646 shares of the company’s stock, valued at $324,080.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.61% of the company’s stock.

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Keryx Biopharmaceuticals Profile

Keryx Biopharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on providing medicines for patients with kidney disease in the United States. It markets its lead product Auryxia (ferric citrate), an orally available, absorbable, iron-based medicine for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis, as well as for the treatment of iron deficiency anemia in adults with CKD not on dialysis.

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