Alkeon Capital Management LLC Lowers Stock Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Alkeon Capital Management LLC has decreased its stake in Akero Therapeutics by 11.9%, now holding approximately 1.95% of the company worth around $62.78 million.
• Several institutional investors, including RTW Investments LP and Vanguard Group Inc., have increased their holdings in Akero, indicating ongoing interest from the investment community.
• A recent earnings report showed Akero posted an EPS of ($0.86), exceeding analysts' expectations of ($0.97), and the company is currently focused on developing treatments for serious metabolic diseases.

Alkeon Capital Management LLC lowered its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 11.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,550,934 shares of the company's stock after selling 210,334 shares during the period. Alkeon Capital Management LLC owned approximately 1.95% of Akero Therapeutics worth $62,782,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its position in shares of Akero Therapeutics by 479.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 174,960 shares of the company's stock worth $7,082,000 after purchasing an additional 144,752 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Akero Therapeutics by 14.0% during the 1st quarter. Royal Bank of Canada now owns 26,602 shares of the company's stock worth $1,077,000 after acquiring an additional 3,263 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Akero Therapeutics during the first quarter valued at approximately $266,000. Long Focus Capital Management LLC increased its stake in shares of Akero Therapeutics by 1.4% during the 1st quarter. Long Focus Capital Management LLC now owns 729,504 shares of the company's stock worth $29,530,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Akero Therapeutics by 2.0% in the first quarter. Rafferty Asset Management LLC now owns 74,081 shares of the company's stock valued at $2,999,000 after purchasing an additional 1,477 shares during the last quarter.

Akero Therapeutics Stock Performance

Shares of AKRO stock traded up $0.69 during trading hours on Friday, reaching $44.72. The company had a trading volume of 2,341,203 shares, compared to its average volume of 819,256. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40. The firm has a market cap of $3.58 billion, a PE ratio of -22.36 and a beta of -0.24. The business has a fifty day moving average price of $49.62 and a 200-day moving average price of $46.70.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same period in the previous year, the firm earned ($0.81) earnings per share. Sell-side analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on AKRO shares. HC Wainwright initiated coverage on Akero Therapeutics in a research note on Thursday. They set a "buy" rating and a $72.00 target price for the company. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. TD Cowen assumed coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. Bank of America upped their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, Citigroup cut their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $81.14.

Insider Transactions at Akero Therapeutics

In other news, insider Timothy Rolph sold 12,500 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $51.09, for a total transaction of $638,625.00. Following the transaction, the insider owned 167,124 shares of the company's stock, valued at approximately $8,538,365.16. The trade was a 6.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Catriona Yale sold 10,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $54.23, for a total transaction of $542,300.00. Following the completion of the transaction, the insider directly owned 92,231 shares in the company, valued at $5,001,687.13. This represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,406 shares of company stock valued at $10,144,055 over the last quarter. 7.07% of the stock is owned by insiders.

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.