66,000 Shares in Akero Therapeutics, Inc. (NASDAQ:AKRO) Purchased by Orbimed Advisors LLC

Orbimed Advisors LLC acquired a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,000 shares of the company's stock, valued at approximately $1,836,000. Orbimed Advisors LLC owned about 0.09% of Akero Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Summit Investment Advisors Inc. increased its holdings in shares of Akero Therapeutics by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after purchasing an additional 450 shares during the last quarter. Hsbc Holdings PLC increased its position in Akero Therapeutics by 8.5% during the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock worth $220,000 after purchasing an additional 621 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Akero Therapeutics by 1.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,442 shares of the company's stock worth $1,153,000 after purchasing an additional 637 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Akero Therapeutics by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company's stock worth $584,000 after purchasing an additional 1,000 shares during the period. Finally, Swiss National Bank boosted its holdings in Akero Therapeutics by 1.2% in the 4th quarter. Swiss National Bank now owns 95,600 shares of the company's stock valued at $2,660,000 after purchasing an additional 1,100 shares during the last quarter.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO opened at $41.53 on Tuesday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -11.07 and a beta of -0.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The business's 50 day simple moving average is $41.14 and its 200-day simple moving average is $37.64. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its 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). As a group, equities analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Akero Therapeutics

In related news, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $49.87, for a total transaction of $498,700.00. Following the completion of the sale, the insider now owns 95,648 shares in the company, valued at approximately $4,769,965.76. This trade represents a 9.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.77, for a total transaction of $1,253,100.00. Following the completion of the transaction, the chief executive officer now directly owns 656,062 shares of the company's stock, valued at approximately $27,403,709.74. This represents a 4.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 189,208 shares of company stock worth $7,974,594. 7.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AKRO has been the topic of several recent analyst reports. UBS Group upped their price target on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, January 31st. HC Wainwright increased their price target on Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Canaccord Genuity Group lifted their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Citigroup lifted their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $76.29.

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.

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