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

Cutter Capital Management LP purchased a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 230,000 shares of the company's stock, valued at approximately $6,399,000. Akero Therapeutics makes up 2.6% of Cutter Capital Management LP's holdings, making the stock its 18th biggest position. Cutter Capital Management LP owned approximately 0.33% of Akero Therapeutics as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Akero Therapeutics by 127.9% during the 3rd quarter. Barclays PLC now owns 127,668 shares of the company's stock valued at $3,662,000 after purchasing an additional 71,652 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Akero Therapeutics by 4,022.1% during the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock valued at $16,636,000 after buying an additional 583,486 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Akero Therapeutics by 10.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company's stock worth $412,000 after purchasing an additional 1,446 shares during the period. abrdn plc grew its stake in Akero Therapeutics by 118.7% in the fourth 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. Finally, Rhumbline Advisers raised its holdings in shares of Akero Therapeutics by 1.3% in the 4th quarter. Rhumbline Advisers now owns 105,686 shares of the company's stock valued at $2,940,000 after purchasing an additional 1,310 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AKRO shares. Canaccord Genuity Group raised their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the company from $35.00 to $63.00 in a report on Thursday, January 30th. UBS Group upped their price objective 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 reissued an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Finally, Citigroup raised their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics has a consensus rating of "Buy" and an average target price of $76.29.

Insider Buying and Selling at Akero Therapeutics

In related news, CFO William Richard White sold 676 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total value of $30,338.88. Following the completion of the transaction, the chief financial officer now owns 61,959 shares of the company's stock, valued at approximately $2,780,719.92. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $35.23, for a total transaction of $1,056,900.00. Following the completion of the sale, the chief executive officer now directly owns 624,324 shares of the company's stock, valued at $21,994,934.52. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,208 shares of company stock valued at $9,556,494 in the last three months. Corporate insiders own 7.94% of the company's stock.

Akero Therapeutics Trading Down 6.0 %

Shares of AKRO stock traded down $2.54 on Friday, reaching $39.85. 1,332,231 shares of the stock were exchanged, compared to its average volume of 891,466. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.18 billion, a P/E ratio of -10.63 and a beta of -0.12. The firm has a 50 day moving average of $41.21 and a two-hundred day moving average of $37.50. Akero Therapeutics, Inc. has a 1-year low of $17.86 and a 1-year high of $58.40.

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

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.