Akero Therapeutics (NASDAQ:AKRO) Shares Down 5.9% Following Insider Selling

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report)'s share price was down 5.9% during mid-day trading on Friday following insider selling activity. The stock traded as low as $46.12 and last traded at $46.10. Approximately 773,115 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 949,972 shares. The stock had previously closed at $48.97.

Specifically, VP Patrick Lamy sold 4,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. Following the sale, the vice president now directly owns 33,492 shares of the company's stock, valued at approximately $1,674,600. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Catriona Yale sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $39.30, for a total value of $393,000.00. Following the sale, the insider now owns 95,034 shares in the company, valued at approximately $3,734,836.20. This trade represents a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

AKRO has been the topic of a number of research reports. Canaccord Genuity Group upped their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Bank of America increased their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday. UBS Group lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Citigroup lowered their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, HC Wainwright raised their target price on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Akero Therapeutics has a consensus rating of "Buy" and a consensus price target of $82.50.

Akero Therapeutics Stock Performance

The company has a fifty day moving average of $41.03 and a two-hundred day moving average of $38.45. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -12.09 and a beta of -0.12. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

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, topping analysts' consensus estimates of ($1.01) by $1.91. As a group, equities research analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Institutional Trading of Akero Therapeutics

A number of institutional investors have recently bought and sold shares of AKRO. Barclays PLC boosted its stake in shares of Akero Therapeutics by 127.9% in the third quarter. Barclays PLC now owns 127,668 shares of the company's stock valued at $3,662,000 after buying an additional 71,652 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Akero Therapeutics by 10.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company's stock valued at $412,000 after acquiring an additional 1,446 shares during the period. abrdn plc grew its holdings in shares of Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company's stock worth $7,505,000 after purchasing an additional 146,424 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Akero Therapeutics by 1.3% during the 4th quarter. Rhumbline Advisers now owns 105,686 shares of the company's stock worth $2,940,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Akero Therapeutics by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company's stock valued at $584,000 after purchasing an additional 1,000 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.