Picton Mahoney Asset Management purchased a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,611 shares of the company's stock, valued at approximately $1,360,000.
Several other large investors also recently modified their holdings of AKRO. RTW Investments LP grew its position in Akero Therapeutics by 15.9% during the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock worth $190,840,000 after acquiring an additional 940,388 shares during the last quarter. Deep Track Capital LP grew its position in Akero Therapeutics by 116.0% during the 4th 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 stake in Akero Therapeutics during the 4th quarter worth approximately $18,059,000. SG Americas Securities LLC grew its position in Akero Therapeutics by 93.3% during the 1st quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company's stock worth $46,786,000 after acquiring an additional 557,794 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Akero Therapeutics by 13.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company's stock worth $120,238,000 after acquiring an additional 513,613 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Citigroup reduced their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Bank of America upped their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $82.50.
Check Out Our Latest Analysis on Akero Therapeutics
Insiders Place Their Bets
In other Akero Therapeutics news, CTO Scott A. Gangloff sold 848 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $54.84, for a total transaction of $46,504.32. Following the completion of the sale, the chief technology officer directly owned 23,452 shares in the company, valued at $1,286,107.68. This trade represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Catriona Yale sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $52.95, for a total transaction of $529,500.00. Following the sale, the insider owned 91,488 shares of the company's stock, valued at $4,844,289.60. This trade represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,906 shares of company stock worth $11,862,790 in the last three months. Insiders own 7.07% of the company's stock.
Akero Therapeutics Stock Down 1.0%
AKRO stock traded down $0.48 during trading hours on Friday, reaching $48.37. 867,371 shares of the stock were exchanged, compared to its average volume of 1,430,957. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -24.81 and a beta of -0.15. The firm's 50-day moving average is $52.00 and its 200-day moving average is $45.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.80 and a quick ratio of 16.80. Akero Therapeutics, Inc. has a 12 month low of $21.34 and a 12 month high of $58.40.
Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of ($1.01) by $1.91. On average, equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.
About Akero Therapeutics
(
Free Report)
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.
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