ADAR1 Capital Management LLC Buys 33,336 Shares of Akero Therapeutics, Inc. $AKRO

Key Points

• ADAR1 Capital Management increased its stake in Akero Therapeutics by 88.2%, owning approximately 0.09% of the company, valued at $2.88 million after acquiring an additional 33,336 shares.
• Analysts maintain a positive outlook for Akero Therapeutics with eight rating it as a "Buy", and the stock has an average price target of $81.57.
• Akero Therapeutics reported an earnings per share of ($0.86), beating consensus estimates, while insiders sold a total of 222,406 shares over the last quarter.

ADAR1 Capital Management LLC boosted its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 88.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 71,143 shares of the company's stock after purchasing an additional 33,336 shares during the quarter. ADAR1 Capital Management LLC owned about 0.09% of Akero Therapeutics worth $2,880,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. purchased a new stake in Akero Therapeutics during the 1st quarter valued at approximately $32,000. GF Fund Management CO. LTD. bought a new stake in shares of Akero Therapeutics during the fourth quarter worth $41,000. PNC Financial Services Group Inc. raised its holdings in shares of Akero Therapeutics by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after acquiring an additional 390 shares in the last quarter. Amalgamated Bank grew its stake in shares of Akero Therapeutics by 19.0% during the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after acquiring an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Akero Therapeutics by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after buying an additional 338 shares during the last quarter.

Insider Activity

In other news, COO Jonathan Young sold 12,500 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $47.79, for a total value of $597,375.00. Following the completion of the transaction, the chief operating officer owned 197,484 shares of the company's stock, valued at $9,437,760.36. The trade was a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Cheng sold 37,837 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $54.05, for a total transaction of $2,045,089.85. Following the completion of the transaction, the chief executive officer directly owned 556,487 shares of the company's stock, valued at $30,078,122.35. This trade represents a 6.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,406 shares of company stock worth $10,144,055. 7.07% of the stock is currently owned by insiders.

Akero Therapeutics Stock Up 1.6%

AKRO traded up $0.69 during trading on Friday, reaching $44.72. 2,341,203 shares of the stock traded hands, compared to its average volume of 819,256. Akero Therapeutics, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The stock's 50-day simple moving average is $49.62 and its two-hundred day simple moving average is $46.73. 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 stock has a market cap of $3.58 billion, a price-to-earnings ratio of -22.36 and a beta of -0.24.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same period in the prior year, the business earned ($0.81) earnings per share. As a group, equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on AKRO. Wall Street Zen raised Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Bank of America raised their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. TD Cowen began coverage on Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating and a $76.00 price objective for the company. HC Wainwright assumed coverage on Akero Therapeutics in a research report on Thursday. They set a "buy" rating and a $72.00 price target for the company. Finally, Cowen assumed coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating on the stock. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $81.14.

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.