Simplify Asset Management Inc. Boosts Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Simplify Asset Management Inc. increased its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 15.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 283,766 shares of the company’s stock after acquiring an additional 38,279 shares during the quarter. Akero Therapeutics comprises about 0.4% of Simplify Asset Management Inc.’s holdings, making the stock its 26th biggest holding. Simplify Asset Management Inc. owned 0.41% of Akero Therapeutics worth $8,141,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Akero Therapeutics by 2,366.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $31,000 after acquiring an additional 1,183 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after purchasing an additional 446 shares during the period. Eastern Bank bought a new position in Akero Therapeutics in the third quarter worth $100,000. Ameritas Investment Partners Inc. grew its holdings in Akero Therapeutics by 20.0% in the first quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock worth $156,000 after purchasing an additional 1,030 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Akero Therapeutics in the 3rd quarter worth approximately $211,000.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research note on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Insider Buying and Selling at Akero Therapeutics

In other news, insider Catriona Yale sold 5,200 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $27.51, for a total transaction of $143,052.00. Following the completion of the sale, the insider now owns 75,931 shares of the company’s stock, valued at $2,088,861.81. The trade was a 6.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William Richard White sold 75,159 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $27.21, for a total value of $2,045,076.39. Following the transaction, the chief financial officer now directly owns 41,791 shares of the company’s stock, valued at $1,137,133.11. The trade was a 64.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 428,397 shares of company stock valued at $12,997,971. 7.94% of the stock is currently owned by insiders.

Akero Therapeutics Trading Down 7.3 %

NASDAQ:AKRO traded down $2.16 during mid-day trading on Friday, hitting $27.60. 166,620 shares of the stock traded hands, compared to its average volume of 863,036. Akero Therapeutics, Inc. has a 52 week low of $13.86 and a 52 week high of $37.00. The firm’s 50 day moving average is $29.43 and its two-hundred day moving average is $25.53. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -7.43 and a beta of -0.26. The company has a quick ratio of 24.89, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, equities research analysts predict that Akero Therapeutics, Inc. will post -3.94 earnings per share for the current year.

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.