ADAR1 Capital Management LLC Acquires 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 raised its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 88.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,143 shares of the company's stock after acquiring an additional 33,336 shares during the period. ADAR1 Capital Management LLC owned approximately 0.09% of Akero Therapeutics worth $2,880,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Northwest & Ethical Investments L.P. bought a new position in shares of Akero Therapeutics in the first quarter worth approximately $32,000. GF Fund Management CO. LTD. bought a new stake in shares of Akero Therapeutics in the fourth quarter worth about $41,000. PNC Financial Services Group Inc. increased its holdings in Akero Therapeutics by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after purchasing an additional 390 shares during the period. Amalgamated Bank raised its position 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 purchasing an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Akero Therapeutics by 14.5% during 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 period.

Insider Buying and Selling

In related news, COO Jonathan Young sold 12,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $47.79, for a total transaction of $597,375.00. Following the transaction, the chief operating officer directly owned 197,484 shares in the company, valued at approximately $9,437,760.36. This represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Catriona Yale sold 10,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $54.23, for a total value of $542,300.00. Following the transaction, the insider owned 92,231 shares in the company, valued at $5,001,687.13. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,406 shares of company stock worth $10,144,055 over the last ninety days. 7.07% of the stock is owned by corporate insiders.

Akero Therapeutics Stock Up 1.6%

AKRO stock traded up $0.69 during midday trading on Friday, hitting $44.72. The company's stock had a trading volume of 2,341,203 shares, compared to its average volume of 819,256. The company has a market cap of $3.58 billion, a PE ratio of -22.36 and a beta of -0.24. The firm's 50-day moving average is $49.62 and its 200-day moving average is $46.70. Akero Therapeutics, Inc. has a 12 month low of $21.34 and a 12 month high of $58.40. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.11. During the same period in the prior year, the firm earned ($0.81) EPS. On average, equities research analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AKRO shares. TD Cowen started coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. HC Wainwright began coverage on Akero Therapeutics in a research note on Thursday. They issued a "buy" rating and a $72.00 price target on the stock. Cowen initiated coverage on Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating for the company. Wall Street Zen raised Akero Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Citigroup cut their target price on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, Akero Therapeutics has a consensus rating of "Buy" and a consensus target price of $81.14.

Akero Therapeutics Company 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.