Akero Therapeutics (NASDAQ:AKRO) Cut to Hold at Jefferies Financial Group

Key Points

• Jefferies Financial Group has reaffirmed a "hold" rating on Akero Therapeutics (AKRO), lowering their price target from $75.00 to $56.00, indicating a potential upside of 3.37% from the stock's previous close.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with seven analysts rating it as a Buy, two as Hold, and one as Sell, while the average target price stands at $75.63.
• Recent insider sales included CEO Andrew Cheng selling 30,000 shares at an average price of $43.25, reflecting a 5.93% decrease in his ownership, as the company continues its development of treatments for serious metabolic diseases.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) was downgraded by research analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a note issued to investors on Thursday, Marketbeat reports. They currently have a $56.00 price target on the stock, down from their previous price target of $75.00. Jefferies Financial Group's target price points to a potential upside of 3.43% from the company's current price.

Other research analysts also recently issued research reports about the stock. Cowen started coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Akero Therapeutics in a research note on Wednesday. TD Cowen initiated coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. Canaccord Genuity Group restated a "hold" rating and issued a $54.00 price target (down previously from $73.00) on shares of Akero Therapeutics in a research note on Thursday. Finally, HC Wainwright assumed coverage on shares of Akero Therapeutics in a research note on Thursday, September 4th. They issued a "buy" rating and a $72.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.63.

Akero Therapeutics Stock Up 16.5%

AKRO stock traded up $7.66 during trading on Thursday, hitting $54.15. 31,910,041 shares of the company's stock traded hands, compared to its average volume of 1,506,721. The firm has a market capitalization of $4.33 billion, a P/E ratio of -27.09 and a beta of -0.29. The business has a fifty day simple moving average of $46.93 and a two-hundred day simple moving average of $46.66. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. Akero Therapeutics has a 1 year low of $21.34 and a 1 year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same quarter in the previous year, the business earned ($0.81) EPS. Sell-side analysts anticipate that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Buying and Selling at Akero Therapeutics

In other news, insider Timothy Rolph sold 12,500 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $44.17, for a total transaction of $552,125.00. Following the transaction, the insider directly owned 167,124 shares in the company, valued at $7,381,867.08. The trade was a 6.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Cheng sold 30,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $43.25, for a total transaction of $1,297,500.00. Following the transaction, the chief executive officer owned 475,698 shares in the company, valued at approximately $20,573,938.50. This trade represents a 5.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,753 shares of company stock valued at $6,406,414. Insiders own 7.07% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC acquired a new position in Akero Therapeutics during the second quarter worth about $3,925,000. Hudson Bay Capital Management LP grew its position in Akero Therapeutics by 28.0% during the second quarter. Hudson Bay Capital Management LP now owns 386,523 shares of the company's stock worth $20,625,000 after buying an additional 84,573 shares during the period. Headlands Technologies LLC grew its position in Akero Therapeutics by 6,783.5% during the second quarter. Headlands Technologies LLC now owns 8,329 shares of the company's stock worth $444,000 after buying an additional 8,208 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Akero Therapeutics by 54.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 6,242 shares of the company's stock worth $334,000 after buying an additional 2,192 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Akero Therapeutics by 1,018.7% during the second quarter. Tower Research Capital LLC TRC now owns 18,369 shares of the company's stock worth $980,000 after buying an additional 16,727 shares during the period.

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.