Akero Therapeutics (NASDAQ:AKRO) Stock Price Down 4.8% - Should You Sell?

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report)'s stock price fell 4.8% during mid-day trading on Monday . The stock traded as low as $54.14 and last traded at $53.51. 367,645 shares changed hands during trading, a decline of 65% from the average session volume of 1,037,509 shares. The stock had previously closed at $56.19.

Analysts Set New Price Targets

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

Akero Therapeutics Trading Down 5.1%

The company has a fifty day simple moving average of $47.62 and a two-hundred day simple moving average of $42.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.80 and a quick ratio of 16.80. The company has a market capitalization of $4.25 billion, a P/E ratio of -27.33 and a beta of -0.16.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results 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. On average, analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Patrick Lamy sold 8,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $42.49, for a total transaction of $339,920.00. Following the completion of the transaction, the vice president now owns 33,492 shares of the company's stock, valued at approximately $1,423,075.08. The trade was a 19.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Scott A. Gangloff sold 848 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $54.84, for a total value of $46,504.32. Following the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 232,979 shares of company stock valued at $10,935,650. Insiders own 7.07% of the company's stock.

Hedge Funds Weigh In On Akero Therapeutics

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. raised its holdings in Akero Therapeutics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock valued at $72,000 after acquiring an additional 321 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Akero Therapeutics by 14.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after acquiring an additional 338 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Akero Therapeutics by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after acquiring an additional 390 shares in the last quarter. Amalgamated Bank raised its holdings in 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 acquiring an additional 410 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in Akero Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after acquiring an additional 450 shares in the last quarter.

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.

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