Cutter Capital Management LP Invests $6.40 Million in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Cutter Capital Management LP acquired a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 230,000 shares of the company's stock, valued at approximately $6,399,000. Akero Therapeutics accounts for about 2.6% of Cutter Capital Management LP's investment portfolio, making the stock its 18th biggest position. Cutter Capital Management LP owned about 0.33% of Akero Therapeutics at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in shares of Akero Therapeutics by 764.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after buying an additional 1,582 shares during the period. Quarry LP acquired a new position in shares of Akero Therapeutics in the 4th quarter valued at $83,000. Summit Investment Advisors Inc. increased its position in shares of Akero Therapeutics by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock worth $197,000 after purchasing an additional 450 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Akero Therapeutics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after buying an additional 621 shares during the period. Finally, AlphaQuest LLC lifted its position in Akero Therapeutics by 32,588.0% in the fourth quarter. AlphaQuest LLC now owns 8,172 shares of the company's stock valued at $227,000 after buying an additional 8,147 shares during the last quarter.

Insiders Place Their Bets

In other Akero Therapeutics news, insider Timothy Rolph sold 18,750 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $56.51, for a total transaction of $1,059,562.50. Following the sale, the insider now directly owns 170,237 shares in the company, valued at approximately $9,620,092.87. The trade was a 9.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $52.73, for a total transaction of $1,581,900.00. Following the completion of the transaction, the chief executive officer now owns 686,062 shares of the company's stock, valued at $36,176,049.26. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 217,458 shares of company stock worth $9,733,261. 7.94% of the stock is owned by insiders.

Akero Therapeutics Price Performance

AKRO stock opened at $44.92 on Tuesday. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $58.40. The business has a 50 day moving average price of $41.61 and a 200 day moving average price of $37.21. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -11.98 and a beta of -0.12.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AKRO shares. UBS Group boosted their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $35.00 to $63.00 in a report on Thursday, January 30th. Citigroup raised their target price on Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, HC Wainwright boosted their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Akero Therapeutics has a consensus rating of "Buy" and an average target price of $76.29.

Akero Therapeutics 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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