Picton Mahoney Asset Management Invests $1.36 Million in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Picton Mahoney Asset Management purchased a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 33,611 shares of the company's stock, valued at approximately $1,360,000.

Several other institutional investors have also added to or reduced their stakes in AKRO. GF Fund Management CO. LTD. bought a new stake in shares of Akero Therapeutics in the 4th quarter valued at approximately $41,000. Sterling Capital Management LLC boosted its holdings in 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 acquiring an additional 1,582 shares during the period. Amalgamated Bank boosted its holdings in Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock valued at $104,000 after acquiring an additional 410 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after acquiring an additional 338 shares during the period. Finally, KBC Group NV purchased a new position in Akero Therapeutics during the 1st quarter valued at $120,000.

Akero Therapeutics Stock Down 1.0%

Shares of AKRO traded down $0.48 during trading hours on Friday, hitting $48.37. The company had a trading volume of 867,371 shares, compared to its average volume of 872,309. The company has a market capitalization of $3.86 billion, a PE ratio of -24.81 and a beta of -0.28. The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40. The company's fifty day moving average price is $52.04 and its two-hundred day moving average price is $45.99.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced 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 analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AKRO has been the subject of a number of recent analyst reports. Citigroup dropped 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. Bank of America lifted their target price on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $82.50.

Insider Buying and Selling

In related news, insider Catriona Yale sold 10,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $39.30, for a total transaction of $393,000.00. Following the transaction, the insider directly owned 95,034 shares in the company, valued at $3,734,836.20. The trade was a 9.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cheng sold 37,837 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total value of $2,045,089.85. Following the transaction, the chief executive officer owned 556,487 shares in the company, valued at approximately $30,078,122.35. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 235,906 shares of company stock worth $11,862,790 in the last ninety days. 7.07% of the stock is owned by insiders.

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.