Akero Therapeutics (NASDAQ:AKRO) Stock Rating Upgraded by Wall Street Zen

Key Points

• Akero Therapeutics' stock rating was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, indicating a shift in investor sentiment.
• Despite the upgrade, Weiss Ratings maintained a "sell" rating, showcasing mixed opinions among analysts; however, the overall consensus rating remains a "Moderate Buy."
• Insider transactions revealed that COO Jonathan Young and another insider sold a combined total of 25,000 shares recently, reflecting a notable decrease in their ownership stakes.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Akero Therapeutics in a research report on Saturday, September 27th. TD Cowen initiated coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. HC Wainwright initiated coverage on Akero Therapeutics in a research report on Thursday, September 4th. They issued a "buy" rating and a $72.00 price target for the company. Finally, Cowen initiated coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating for the company. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.14.

Akero Therapeutics Stock Down 0.7%

Shares of Akero Therapeutics stock traded down $0.31 on Friday, hitting $46.10. 644,680 shares of the company traded hands, compared to its average volume of 1,279,928. The company has a 50-day moving average price of $47.05 and a 200 day moving average price of $46.63. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. Akero Therapeutics has a 12-month low of $21.34 and a 12-month high of $58.40. The company has a market cap of $3.69 billion, a PE ratio of -23.05 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. Sell-side analysts predict that Akero Therapeutics will post -3.99 earnings per share for the current year.

Insider Activity at Akero Therapeutics

In other news, COO Jonathan Young sold 12,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the transaction, the chief operating officer owned 197,484 shares of the company's stock, valued at approximately $9,100,062.72. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy Rolph sold 12,500 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $44.17, for a total transaction of $552,125.00. Following the transaction, the insider directly owned 167,124 shares of the company's stock, valued at $7,381,867.08. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,253 shares of company stock worth $8,579,839 over the last ninety days. Corporate insiders own 7.07% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AKRO. Holocene Advisors LP acquired a new position in Akero Therapeutics in the second quarter worth about $57,396,000. Bank of America Corp DE raised its position in Akero Therapeutics by 406.7% in the second quarter. Bank of America Corp DE now owns 1,320,461 shares of the company's stock worth $70,460,000 after purchasing an additional 1,059,860 shares in the last quarter. Bellevue Group AG raised its position in Akero Therapeutics by 58.7% in the second quarter. Bellevue Group AG now owns 1,985,272 shares of the company's stock worth $105,934,000 after purchasing an additional 734,606 shares in the last quarter. SG Americas Securities LLC raised its position in Akero Therapeutics by 93.3% in the first quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company's stock worth $46,786,000 after purchasing an additional 557,794 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Akero Therapeutics in the first quarter worth about $21,333,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.