Dark Forest Capital Management LP Buys Shares of 16,893 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Dark Forest Capital Management LP purchased a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,893 shares of the company's stock, valued at approximately $470,000.

A number of other large investors have also recently bought and sold shares of the business. Sterling Capital Management LLC boosted its holdings 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 worth $50,000 after buying an additional 1,582 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Akero Therapeutics by 6.8% in the fourth 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 period. Hsbc Holdings PLC increased its stake in Akero Therapeutics by 8.5% in the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after purchasing an additional 621 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Akero Therapeutics by 32,588.0% during the 4th quarter. AlphaQuest LLC now owns 8,172 shares of the company's stock worth $227,000 after purchasing an additional 8,147 shares in the last quarter. Finally, Optimize Financial Inc acquired a new position in Akero Therapeutics during the 4th quarter worth approximately $232,000.

Insider Buying and Selling

In other Akero Therapeutics news, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $53.81, for a total value of $538,100.00. Following the sale, the chief operating officer now owns 251,147 shares of the company's stock, valued at approximately $13,514,220.07. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director G. Walmsley Graham bought 91,309 shares of Akero Therapeutics stock in a transaction dated Tuesday, March 25th. The shares were bought at an average cost of $44.75 per share, with a total value of $4,086,077.75. Following the completion of the transaction, the director now directly owns 1,091,309 shares in the company, valued at approximately $48,836,077.75. This trade represents a 9.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 227,458 shares of company stock valued at $10,271,361. 7.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AKRO. UBS Group upped their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. HC Wainwright raised their price objective 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. Citigroup boosted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Canaccord Genuity Group raised their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Akero Therapeutics currently has an average rating of "Buy" and an average target price of $76.29.

Akero Therapeutics Stock Down 1.9 %

AKRO stock traded down $0.87 during trading on Friday, reaching $44.44. The stock had a trading volume of 459,155 shares, compared to its average volume of 874,128. 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 company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -11.88 and a beta of -0.18. Akero Therapeutics, Inc. has a one year low of $17.86 and a one year high of $58.40. The company's 50 day moving average is $41.71 and its two-hundred day moving average is $36.93.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.01). Equities research analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

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.