Nuveen LLC Takes Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Nuveen LLC has acquired 308,326 shares of Akero Therapeutics, Inc. for approximately $12.48 million, representing about 0.39% of the company's total shares.
• Analysts have rated Akero Therapeutics stock positively, with an average buy rating and a consensus price target of $81.57, despite a recent price objective decrease by Citigroup from $80.00 to $78.00.
• Insider trading activity has seen COO Jonathan Young sell 12,500 shares at an average price of $47.79, reflecting a decrease in his ownership stake, while a total of 226,406 shares have been sold by insiders in the last three months.

Nuveen LLC acquired a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 308,326 shares of the company's stock, valued at approximately $12,481,000. Nuveen LLC owned 0.39% of Akero Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. RTW Investments LP boosted its holdings in shares of Akero Therapeutics by 15.9% in the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock valued at $190,840,000 after buying an additional 940,388 shares during the period. Deep Track Capital LP lifted its holdings in Akero Therapeutics by 116.0% in the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock worth $41,452,000 after acquiring an additional 800,216 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Akero Therapeutics in the fourth quarter worth about $18,059,000. SG Americas Securities LLC boosted its stake 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 valued at $46,786,000 after acquiring an additional 557,794 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Akero Therapeutics by 14.2% during the first quarter. Vanguard Group Inc. now owns 4,230,644 shares of the company's stock valued at $171,256,000 after purchasing an additional 526,233 shares during the last quarter.

Akero Therapeutics Price Performance

Akero Therapeutics stock traded up $0.07 during mid-day trading on Wednesday, hitting $48.19. The company's stock had a trading volume of 760,483 shares, compared to its average volume of 1,057,640. The stock has a market capitalization of $3.85 billion, a P/E ratio of -24.10 and a beta of -0.28. Akero Therapeutics, Inc. has a twelve month low of $21.34 and a twelve month high of $58.40. The stock's fifty day moving average price is $50.90 and its two-hundred day moving average price is $46.94. 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 (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same period last year, the company posted ($0.81) EPS. Research analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AKRO shares. TD Cowen started coverage on Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating and a $76.00 price target on the stock. Citigroup cut their target price on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Cowen assumed coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating on the stock. Finally, Bank of America lifted their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $81.57.

Insider Buying and Selling

In other Akero Therapeutics news, insider Timothy Rolph sold 25,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $55.04, for a total value of $1,376,000.00. Following the completion of the transaction, the insider directly owned 169,721 shares in the company, valued at $9,341,443.84. This trade represents a 12.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $54.23, for a total transaction of $542,300.00. Following the completion of the transaction, the insider directly owned 92,231 shares in the company, valued at approximately $5,001,687.13. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,406 shares of company stock worth $11,813,920. Company insiders own 7.07% of the company's stock.

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.