Akero Therapeutics (NASDAQ:AKRO) Trading 5.5% Higher

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s share price rose 5.5% on Monday . The stock traded as high as $20.77 and last traded at $20.74. Approximately 65,585 shares changed hands during trading, a decline of 94% from the average daily volume of 1,191,632 shares. The stock had previously closed at $19.66.

Analysts Set New Price Targets

AKRO has been the topic of several research reports. Bank of America initiated coverage on Akero Therapeutics in a research report on Monday, April 22nd. They set a “neutral” rating and a $30.00 price objective on the stock. HC Wainwright lifted their price objective on Akero Therapeutics from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, UBS Group boosted their price target on Akero Therapeutics from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Akero Therapeutics has an average rating of “Moderate Buy” and an average target price of $37.71.

Akero Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 29.27 and a current ratio of 29.27. The business has a 50-day moving average price of $24.31 and a 200 day moving average price of $21.01. The stock has a market capitalization of $1.53 billion, a P/E ratio of -7.31 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.17). As a group, sell-side analysts forecast that Akero Therapeutics, Inc. will post -3.93 EPS for the current fiscal year.

Insider Activity at Akero Therapeutics

In related news, insider Catriona Yale sold 20,646 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.49, for a total value of $732,726.54. Following the transaction, the insider now directly owns 78,415 shares of the company’s stock, valued at approximately $2,782,948.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Akero Therapeutics news, CEO Andrew Cheng sold 75,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $32.87, for a total transaction of $2,465,250.00. Following the completion of the sale, the chief executive officer now directly owns 591,416 shares in the company, valued at approximately $19,439,843.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Catriona Yale sold 20,646 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.49, for a total transaction of $732,726.54. Following the sale, the insider now owns 78,415 shares of the company’s stock, valued at $2,782,948.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,646 shares of company stock valued at $3,420,627. 9.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Akero Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP grew its position in Akero Therapeutics by 40.0% during the fourth quarter. Quarry LP now owns 1,750 shares of the company’s stock valued at $41,000 after buying an additional 500 shares during the period. E Fund Management Co. Ltd. grew its position in shares of Akero Therapeutics by 10.8% during the 3rd quarter. E Fund Management Co. Ltd. now owns 9,428 shares of the company’s stock valued at $477,000 after acquiring an additional 918 shares during the period. Swiss National Bank grew its position in shares of Akero Therapeutics by 1.0% during the 3rd quarter. Swiss National Bank now owns 97,300 shares of the company’s stock valued at $4,921,000 after acquiring an additional 1,000 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Akero Therapeutics in the 3rd quarter worth $51,000. Finally, Strs Ohio raised its holdings in Akero Therapeutics by 100.0% in the 4th quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $46,000 after purchasing an additional 1,000 shares during the period.

About Akero Therapeutics

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.