Akero Therapeutics (NASDAQ:AKRO) Trading Down 4%

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) traded down 4% during mid-day trading on Monday . The stock traded as low as $23.75 and last traded at $23.75. 14,978 shares traded hands during trading, a decline of 99% from the average session volume of 1,014,339 shares. The stock had previously closed at $24.74.

Analysts Set New Price Targets

A number of brokerages have recently commented on AKRO. Wolfe Research began coverage on shares of Akero Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating on the stock. Evercore ISI cut their price target on shares of Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a report on Monday. Canaccord Genuity Group cut their price target on shares of Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, Bank of America began coverage on shares of Akero Therapeutics in a report on Monday, April 22nd. They set a “neutral” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Akero Therapeutics Trading Down 1.3 %

The company has a quick ratio of 30.12, a current ratio of 30.12 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $24.22 and its 200 day moving average price is $23.22. The company has a market capitalization of $1.69 billion, a P/E ratio of -7.73 and a beta of -0.28.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, May 10th. The company reported ($0.90) EPS for the quarter, hitting the consensus estimate of ($0.90). As a group, equities research analysts predict that Akero Therapeutics, Inc. will post -3.82 earnings per share for the current year.

Insider Transactions at Akero Therapeutics

In other news, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.75, for a total transaction of $133,750.00. Following the completion of the sale, the chief operating officer now directly owns 241,854 shares of the company’s stock, valued at $6,469,594.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Catriona Yale sold 2,825 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $22.64, for a total transaction of $63,958.00. Following the transaction, the insider now directly owns 74,867 shares in the company, valued at $1,694,988.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.75, for a total transaction of $133,750.00. Following the transaction, the chief operating officer now owns 241,854 shares in the company, valued at $6,469,594.50. The disclosure for this sale can be found here. Insiders sold a total of 205,529 shares of company stock valued at $5,452,376 over the last three months. Corporate insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Akero Therapeutics by 31.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,885 shares of the company’s stock valued at $931,000 after acquiring an additional 9,567 shares during the last quarter. Strs Ohio boosted its stake in Akero Therapeutics by 100.0% in the fourth quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares during the last quarter. HealthInvest Partners AB purchased a new position in Akero Therapeutics in the fourth quarter valued at about $360,000. abrdn plc purchased a new position in Akero Therapeutics in the fourth quarter valued at about $1,671,000. Finally, New York State Common Retirement Fund boosted its stake in Akero Therapeutics by 3.6% in the fourth quarter. New York State Common Retirement Fund now owns 34,545 shares of the company’s stock valued at $807,000 after acquiring an additional 1,214 shares during the last quarter.

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.