Akero Therapeutics (NASDAQ:AKRO) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Akero Therapeutics has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a shift in analysts' outlook on the stock.
• Several research firms have recently adjusted their ratings and price targets for Akero, highlighting a consensus rating of "Hold" with an average price target of $73.38.
• Recent insider trading activity includes significant stock sales by CEO Andrew Cheng and COO Jonathan Young, raising concerns about leadership confidence in the company's prospects.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

AKRO has been the topic of a number of other research reports. TD Cowen started coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 price target on the stock. Jefferies Financial Group lowered Akero Therapeutics from a "buy" rating to a "hold" rating and reduced their price target for the company from $75.00 to $56.00 in a research report on Thursday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Akero Therapeutics in a research report on Wednesday. HC Wainwright reaffirmed a "neutral" rating and issued a $54.00 price target (down previously from $72.00) on shares of Akero Therapeutics in a research report on Friday. Finally, Cowen started coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating on the stock. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $73.38.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $53.88 on Friday. The business has a 50-day moving average of $47.15 and a 200 day moving average of $46.78. Akero Therapeutics has a 12 month low of $21.34 and a 12 month high of $58.40. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -26.94 and a beta of -0.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66.

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

Insider Buying and Selling at Akero Therapeutics

In related news, CEO Andrew Cheng sold 1,796 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $43.02, for a total transaction of $77,263.92. Following the transaction, the chief executive officer owned 473,902 shares in the company, valued at $20,387,264.04. This trade represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jonathan Young sold 12,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $47.76, for a total value of $597,000.00. Following the transaction, the chief operating officer owned 196,898 shares in the company, valued at $9,403,848.48. This represents a 5.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,253 shares of company stock worth $6,982,414. 7.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. purchased a new position in shares of Akero Therapeutics in the 1st quarter valued at approximately $10,404,000. Bank of New York Mellon Corp grew its stake in shares of Akero Therapeutics by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 212,665 shares of the company's stock valued at $8,609,000 after purchasing an additional 12,235 shares during the last quarter. Allostery Investments LP purchased a new position in shares of Akero Therapeutics in the 1st quarter valued at approximately $729,000. Intech Investment Management LLC grew its stake in shares of Akero Therapeutics by 54.4% in the 1st quarter. Intech Investment Management LLC now owns 58,522 shares of the company's stock valued at $2,369,000 after purchasing an additional 20,620 shares during the last quarter. Finally, 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 valued at $104,000 after purchasing an additional 410 shares during 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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