Tema Etfs LLC Purchases New Shares in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Tema Etfs LLC 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 SEC. The institutional investor purchased 32,150 shares of the company's stock, valued at approximately $894,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in Akero Therapeutics in the fourth quarter valued at about $840,000. abrdn plc raised its position in shares of Akero Therapeutics by 118.7% in the 4th quarter. abrdn plc now owns 269,782 shares of the company's stock valued at $7,505,000 after purchasing an additional 146,424 shares in the last quarter. RTW Investments LP boosted its stake in shares of Akero Therapeutics by 15.9% during 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 last quarter. Deep Track Capital LP grew its position in shares of Akero Therapeutics by 116.0% during the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock worth $41,452,000 after buying an additional 800,216 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its position in shares of Akero Therapeutics by 1.4% during the fourth quarter. Rock Springs Capital Management LP now owns 946,499 shares of the company's stock worth $26,332,000 after buying an additional 13,100 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on AKRO. Canaccord Genuity Group increased their price objective 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. UBS Group upped their target price 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. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Citigroup lowered their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $82.33.

Insider Transactions at Akero Therapeutics

In related news, CEO Andrew Cheng sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.77, for a total transaction of $1,253,100.00. Following the completion of the transaction, the chief executive officer now owns 656,062 shares in the company, valued at $27,403,709.74. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Young sold 607 shares of Akero Therapeutics stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total value of $27,242.16. Following the transaction, the chief operating officer now directly owns 200,540 shares of the company's stock, valued at approximately $9,000,235.20. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,208 shares of company stock worth $9,113,294. Insiders own 7.94% of the company's stock.

Akero Therapeutics Stock Up 1.6%

Shares of NASDAQ AKRO traded up $0.78 during mid-day trading on Wednesday, reaching $48.35. The company had a trading volume of 2,343,611 shares, compared to its average volume of 943,660. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -12.89 and a beta of -0.12. The stock has a fifty day moving average of $40.75 and a two-hundred day moving average of $37.99. Akero Therapeutics, Inc. has a 12-month low of $17.86 and a 12-month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of ($1.01) by $1.91. As a group, equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

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.