Aberdeen Group plc Raises Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Aberdeen Group plc boosted its holdings in Akero Therapeutics by 50.8% in Q1, owning over 406,700 shares valued at approximately $16.46 million.
• Analysts have been optimistic about Akero Therapeutics, with multiple brokerages setting price targets above the current stock price, resulting in a consensus rating of "Moderate Buy".
• Insider trades have seen significant activity, with COO Jonathan Young and another insider recently selling a total of 25,000 shares combined in the past month.

Aberdeen Group plc increased its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 50.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 406,700 shares of the company's stock after acquiring an additional 136,918 shares during the quarter. Aberdeen Group plc owned about 0.51% of Akero Therapeutics worth $16,463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AKRO. Fox Run Management L.L.C. acquired a new position in shares of Akero Therapeutics during the 1st quarter worth approximately $642,000. Sei Investments Co. grew its position in Akero Therapeutics by 26.5% during the first quarter. Sei Investments Co. now owns 13,769 shares of the company's stock worth $519,000 after buying an additional 2,882 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Akero Therapeutics during the first quarter worth approximately $21,333,000. E Fund Management Co. Ltd. bought a new position in Akero Therapeutics during the 1st quarter worth $280,000. Finally, Russell Investments Group Ltd. raised its holdings in Akero Therapeutics by 7,613.2% in the 1st quarter. Russell Investments Group Ltd. now owns 158,275 shares of the company's stock valued at $6,407,000 after acquiring an additional 156,223 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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. Cowen started coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating on the stock. Bank of America increased 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. Wall Street Zen raised Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, TD Cowen began coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating and a $76.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $81.57.

Insider Activity

In other news, insider Timothy Rolph sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $49.30, for a total value of $616,250.00. Following the completion of the transaction, the insider directly owned 167,124 shares in the company, valued at approximately $8,239,213.20. This trade represents a 6.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Young sold 12,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $47.79, for a total transaction of $597,375.00. Following the completion of the transaction, the chief operating officer directly owned 197,484 shares in the company, valued at $9,437,760.36. The trade was a 5.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,406 shares of company stock valued at $11,813,920. 7.07% of the stock is currently owned by corporate insiders.

Akero Therapeutics Stock Up 1.9%

Shares of AKRO stock traded up $0.94 on Friday, reaching $49.23. 802,546 shares of the company were exchanged, compared to its average volume of 1,403,227. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66. The company has a 50-day moving average of $51.48 and a 200-day moving average of $47.15. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -24.62 and a beta of -0.28. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same period in the prior year, the business posted ($0.81) earnings per share. Analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share 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.