The President of Achaogen and President of R&D of Achaogen is Exercising Options

By Carrie Williams

Yesterday, the President of Achaogen and President of R&D of Achaogen, Kenneth Hillan, exercised options of Achaogen (NASDAQ: AKAO) for $1.08M.

This recent transaction increases Kenneth Hillan’s holding in the company by 253.49% to a total of $2.54 million. This is Hillan’s first Buy trade following 4 Sell transactions.

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Based on Achaogen’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.14 million and GAAP net loss of $47.23 million. In comparison, last year the company earned revenue of $1.27 million and had a GAAP net loss of $26.07 million. Currently, Achaogen has an average volume of 1.31M.

Based on 7 analyst ratings, the analyst consensus is Strong Buy with an average price target of $19.00, reflecting a -54.4% downside. 11 different firms, including Cantor Fitzgerald and Cowen & Co., currently also have a Buy rating on the stock. Starting in May 2018, AKAO received 6 Buy ratings in a row.

In the last 30 days, insiders have sold $2,857 worth of AKAO shares and purchased $1.08M worth of AKAO shares. The insider sentiment on Achaogen has been positive according to 38 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Achaogen, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of antibacterial treatments for multi-drug resistant (MDR) gram-negative infections. It offers Plazomicin to treat bacterial illness, such as complicated urinary tract infection, blood stream infections, and other infections due to MDR Enterobacteriaceae. The company was founded by Nathaniel E. David in June 2002 and is headquartered in South San Francisco, CA.