Akero Therapeutics (NASDAQ:AKRO) Shares Gap Up After Insider Buying Activity

Akero Therapeutics, Inc. (NASDAQ:AKRO) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $43.58, but opened at $45.38. Akero Therapeutics shares last traded at $43.15, with a volume of 76,195 shares trading hands.

Specifically, Director G. Walmsley Graham bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $43.55 per share, for a total transaction of $2,177,500.00. Following the purchase, the director now directly owns 1,200,000 shares in the company, valued at $52,260,000. This trade represents a 4.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G. Walmsley Graham bought 91,309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average cost of $44.75 per share, for a total transaction of $4,086,077.75. Following the completion of the transaction, the director now owns 1,091,309 shares of the company’s stock, valued at $48,836,077.75. This represents a 9.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. HC Wainwright boosted their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley restated an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Citigroup raised their price target on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Canaccord Genuity Group lifted their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Bank of America raised Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Akero Therapeutics presently has an average rating of “Buy” and a consensus target price of $76.29.

Akero Therapeutics Stock Down 1.7 %

The firm has a market cap of $3.41 billion, a P/E ratio of -11.44 and a beta of -0.19. The stock’s 50 day simple moving average is $45.66 and its 200 day simple moving average is $34.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in Akero Therapeutics during the 3rd quarter worth approximately $211,000. Intech Investment Management LLC purchased a new position in Akero Therapeutics during the third quarter worth about $491,000. Algert Global LLC increased its stake in Akero Therapeutics by 8.3% in the 3rd quarter. Algert Global LLC now owns 68,052 shares of the company’s stock worth $1,952,000 after acquiring an additional 5,191 shares during the last quarter. FMR LLC boosted its position in shares of Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock valued at $870,000 after acquiring an additional 26,691 shares during the last quarter. Finally, Fred Alger Management LLC lifted its holdings in shares of Akero Therapeutics by 117.8% during the 3rd quarter. Fred Alger Management LLC now owns 269,601 shares of the company’s stock worth $7,735,000 after acquiring an additional 145,813 shares during the last quarter.

Akero Therapeutics Company Profile

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.