RTW Investments LP Buys 940,388 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

RTW Investments LP increased its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,859,823 shares of the company's stock after buying an additional 940,388 shares during the quarter. Akero Therapeutics accounts for about 2.9% of RTW Investments LP's portfolio, making the stock its 13th biggest holding. RTW Investments LP owned about 9.83% of Akero Therapeutics worth $190,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AKRO. Price T Rowe Associates Inc. MD grew its stake in Akero Therapeutics by 13.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company's stock valued at $120,238,000 after purchasing an additional 513,613 shares in the last quarter. Vanguard Group Inc. grew its stake in Akero Therapeutics by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company's stock valued at $103,057,000 after purchasing an additional 27,830 shares in the last quarter. Deep Track Capital LP grew its stake in Akero Therapeutics by 116.0% in the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock valued at $41,452,000 after purchasing an additional 800,216 shares in the last quarter. Rock Springs Capital Management LP grew its stake in Akero Therapeutics by 1.4% in the fourth quarter. Rock Springs Capital Management LP now owns 946,499 shares of the company's stock valued at $26,332,000 after purchasing an additional 13,100 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Akero Therapeutics in the fourth quarter valued at approximately $18,059,000.

Analyst Ratings Changes

AKRO has been the subject of a number of analyst reports. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Citigroup reduced their target price on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. HC Wainwright lifted their target price on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, UBS Group lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $82.33.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.77, for a total value 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 $27,403,709.74. The trade was a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Richard White sold 676 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total value of $30,338.88. Following the transaction, the chief financial officer now directly owns 61,959 shares of the company's stock, valued at $2,780,719.92. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,208 shares of company stock valued at $9,218,994 in the last three months. Corporate insiders own 7.94% of the company's stock.

Akero Therapeutics Stock Performance

Shares of NASDAQ AKRO traded down $0.73 during midday trading on Monday, hitting $38.14. 740,553 shares of the company's stock were exchanged, compared to its average volume of 911,058. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40. The company's 50 day moving average price is $40.85 and its 200 day moving average price is $37.88. The firm has a market capitalization of $3.04 billion, a PE ratio of -10.17 and a beta of -0.12.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of ($1.01) by $1.91. As a group, analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal 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.