Algert Global LLC Lowers Stake in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Algert Global LLC cut its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,734 shares of the company's stock after selling 8,318 shares during the period. Algert Global LLC owned approximately 0.09% of Akero Therapeutics worth $1,662,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AKRO. 5AM Venture Management LLC bought a new stake in Akero Therapeutics in the 4th quarter valued at $4,590,000. Foresite Capital Management VI LLC acquired a new stake in shares of Akero Therapeutics in the 4th quarter valued at $10,154,000. Northern Trust Corp increased its holdings in shares of Akero Therapeutics by 6.1% during the fourth quarter. Northern Trust Corp now owns 620,321 shares of the company's stock worth $17,257,000 after buying an additional 35,737 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Akero Therapeutics by 29.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 124,592 shares of the company's stock valued at $3,466,000 after acquiring an additional 28,043 shares during the last quarter. Finally, Quarry LP acquired a new position in Akero Therapeutics in the fourth quarter valued at about $83,000.

Insider Transactions at Akero Therapeutics

In related news, insider Catriona Yale sold 10,000 shares of the 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 directly owns 95,648 shares in the company, valued at $4,769,965.76. This represents a 9.47% decrease in their position. 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 stock in a transaction on Monday, May 12th. The shares were sold at an average price of $41.48, for a total transaction of $1,244,400.00. Following the sale, the chief executive officer now directly owns 594,324 shares of the company's stock, valued at $24,652,559.52. The trade was a 4.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,208 shares of company stock worth $9,218,994 in the last quarter. 7.94% of the stock is currently owned by corporate insiders.

Akero Therapeutics Stock Up 5.6%

Shares of AKRO stock traded up $2.11 on Thursday, reaching $39.99. 552,861 shares of the company were exchanged, compared to its average volume of 902,052. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. Akero Therapeutics, Inc. has a one year low of $17.86 and a one year high of $58.40. The company has a 50-day moving average of $40.98 and a 200-day moving average of $37.66. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -10.66 and a beta of -0.12.

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

Analysts Set New Price Targets

Several research analysts have weighed in on AKRO shares. HC Wainwright lifted their target price on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Morgan Stanley reiterated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Canaccord Genuity Group increased their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. UBS Group boosted their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Finally, Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Akero Therapeutics has an average rating of "Buy" and an average target price of $76.00.

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.