EcoR1 Capital LLC Takes Position in Akero Therapeutics, Inc. $AKRO

Key Points

• EcoR1 Capital LLC acquired 440,000 shares of Akero Therapeutics, Inc. valued at about $17.81 million, making it the firm's 16th largest position.
• Insider Catriona Yale sold 10,000 shares for $529,500, while COO Jonathan Young sold 12,500 shares for $597,375, reflecting significant insider activity.
• Analysts have given Akero Therapeutics an average rating of "Buy" with a price target range between $64.00 and $76.00, indicating positive market sentiment.

EcoR1 Capital LLC acquired a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 440,000 shares of the company's stock, valued at approximately $17,811,000. Akero Therapeutics comprises approximately 1.1% of EcoR1 Capital LLC's investment portfolio, making the stock its 16th largest holding. EcoR1 Capital LLC owned about 0.55% of Akero Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Allostery Investments LP bought a new position in shares of Akero Therapeutics during the 1st quarter valued at $729,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Akero Therapeutics during the 1st quarter valued at $7,894,000. ADAR1 Capital Management LLC raised its holdings in shares of Akero Therapeutics by 88.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 71,143 shares of the company's stock valued at $2,880,000 after purchasing an additional 33,336 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Akero Therapeutics by 479.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 174,960 shares of the company's stock valued at $7,082,000 after buying an additional 144,752 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Akero Therapeutics by 14.0% in the 1st quarter. Royal Bank of Canada now owns 26,602 shares of the company's stock valued at $1,077,000 after buying an additional 3,263 shares in the last quarter.

Insider Transactions at Akero Therapeutics

In other news, CEO Andrew Cheng sold 30,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $51.16, for a total value of $1,534,800.00. Following the sale, the chief executive officer owned 520,757 shares of the company's stock, valued at $26,641,928.12. The trade was a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Timothy Rolph sold 12,500 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $51.09, for a total transaction of $638,625.00. Following the completion of the transaction, the insider owned 167,124 shares in the company, valued at approximately $8,538,365.16. This represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,192 shares of company stock valued at $7,484,661. 7.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AKRO. Bank of America increased their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Citigroup lowered their price objective on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. TD Cowen began coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 price objective for the company. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Cowen began coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating for the company. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $81.14.

Akero Therapeutics Trading Down 0.8%

Shares of NASDAQ:AKRO traded down $0.36 during trading on Tuesday, hitting $44.21. 334,596 shares of the company's stock were exchanged, compared to its average volume of 1,369,758. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40. The firm has a 50-day moving average price of $49.44 and a two-hundred day moving average price of $46.63. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. The firm has a market cap of $3.54 billion, a P/E ratio of -22.12 and a beta of -0.24.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same quarter last year, the firm posted ($0.81) EPS. Equities analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

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.