Akebia Executives Dump 36k Shares Amid Slumping Stock and Growing Investor Concerns

Insider Selling in a Down‑Trending Biotech Stock

Akebia Therapeutics’ latest filing shows Chief Accounting Officer Malabre Richard C selling 36,142 shares at $1.39 on 2 Feb 2026. The trade, executed under a Rule 10b‑5(1) trading plan, reflects a routine tax‑withholding sale tied to restricted‑stock units. Yet it arrives amid a broader wave of insider selling that has drawn attention from retail investors. The company’s share price, already down 5.5 % that week, slipped slightly to $1.41 after the announcement, confirming the market’s sensitivity to any insider activity in a stock that is struggling to gain traction.

What Investors Should Take Away

The sale is part of a pattern: Malabre’s recent history shows alternating buys and sells, with sizable transactions in June 2025 and January 2026. While the current sale is a scheduled plan trade, the volume—nearly 36 k shares—adds to a trend of insiders moving shares at times when the stock is low. For an investor, this signals that senior management may not be optimistic about near‑term upside, or at least that they are following standard tax‑withholding procedures. Coupled with the company’s negative earnings ratio (-19) and a yearly decline of nearly 37 %, the insider activity reinforces a cautious outlook for Akebia’s valuation.

Profile of Malabre Richard C

Malabre entered the public market in early 2026, buying 79 k shares on 30 Jan 2026 and 15 k shares in June 2025. His trade history shows a mix of stock‑option purchases and common‑stock sales at varying prices—from $0 to $4.01 per share. The most recent sale at $1.39 coincides with a 10b‑5 plan adopted in September 2025, suggesting a disciplined, rule‑compliant approach rather than speculative trading. Historically, Malabre’s purchases have been larger than his sales, indicating a net long stance. However, the recent sell‑heavy period may reflect a strategic rebalancing or a response to company liquidity needs.

Company‑Wide Insider Movements

Beyond Malabre, Akebia’s legal, medical, and commercial officers are also active. CEO John Butler sold 83 k shares on the same day, while SVP Carolyn Rucci sold 16 k, 25 k, and 27 k shares. The volume of sales across senior executives points to a broader trend of insiders reducing exposure, which could influence sentiment. Nevertheless, the company continues to comply with Nasdaq listing requirements, and its focus on hypoxia‑inducible factor therapies remains unchanged.

Bottom Line for Stakeholders

For long‑term investors, the current insider activity is a reminder to monitor liquidity and management’s confidence in the business model. While the trades themselves are routine, they occur against a backdrop of declining share price, a negative P/E ratio, and a stock that has never breached its 52‑week high. Staying attuned to the next insider filings and any corporate milestones—such as clinical trial results or partnership announcements—will be key to assessing Akebia’s future trajectory.