Akero Therapeutics, Inc. (NASDAQ:AKRO) CTO Sells $46,504.32 in Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) CTO Scott A. Gangloff sold 848 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $54.84, for a total value of $46,504.32. Following the sale, the chief technology officer now directly owns 23,452 shares of the company's stock, valued at $1,286,107.68. This represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Akero Therapeutics Trading Down 1.3%

NASDAQ:AKRO traded down $0.70 during trading hours on Friday, hitting $54.20. 1,983,828 shares of the company were exchanged, compared to its average volume of 1,019,471. The company has a fifty day simple moving average of $45.88 and a 200 day simple moving average of $41.10. Akero Therapeutics, Inc. has a one year low of $21.02 and a one year high of $58.40. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -27.79 and a beta of -0.16. The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of ($1.01) by $1.91. Sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AKRO has been the subject of several research reports. Citigroup cut their price objective on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. HC Wainwright upped their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Bank of America increased their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Akero Therapeutics has a consensus rating of "Buy" and an average target price of $82.50.

Institutional Investors Weigh In On Akero Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. boosted its stake in Akero Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock worth $72,000 after acquiring an additional 321 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after purchasing an additional 338 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Akero Therapeutics by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after buying an additional 390 shares in the last quarter. Amalgamated Bank grew its stake in shares of Akero Therapeutics by 19.0% in the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after acquiring an additional 410 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in Akero Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock worth $197,000 after purchasing an additional 450 shares in 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.

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