Akero Therapeutics (NASDAQ:AKRO) Stock Price Up 4.5% - Here's Why

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) shares rose 4.5% during trading on Thursday . The company traded as high as $46.74 and last traded at $47.36. Approximately 367,321 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 962,400 shares. The stock had previously closed at $45.32.

Analysts Set New Price Targets

AKRO has been the topic of a number of analyst reports. HC Wainwright boosted their price target on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Citigroup decreased their price objective on shares of 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 restated an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. UBS Group boosted their price objective on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Bank of America boosted their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics presently has an average rating of "Buy" and an average target price of $82.50.

Akero Therapeutics Stock Performance

The firm has a market capitalization of $4.07 billion, a PE ratio of -13.61 and a beta of -0.12. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The business's 50 day simple moving average is $41.21 and its two-hundred day simple moving average is $38.73.

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

Insider Buying and Selling at Akero Therapeutics

In other news, VP Patrick Lamy sold 1,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $48.09, for a total value of $48,090.00. Following the completion of the sale, the vice president now directly owns 33,492 shares in the company, valued at $1,610,630.28. This represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jonathan Young sold 50,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $44.86, for a total value of $2,243,000.00. Following the completion of the sale, the chief operating officer now owns 201,147 shares of the company's stock, valued at $9,023,454.42. This trade represents a 19.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,208 shares of company stock worth $9,313,294. Insiders own 7.94% of the company's stock.

Institutional Investors Weigh In On Akero Therapeutics

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

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.