Cubist Systematic Strategies LLC Has $7.08 Million Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Cubist Systematic Strategies LLC increased its position in Akero Therapeutics by 479.2%, owning 174,960 shares valued at approximately $7.08 million after purchasing an additional 144,752 shares in the first quarter.
• Insiders, including CEO Andrew Cheng, have sold significant amounts of stock, decreasing their ownership; Cheng sold 37,837 shares valued at about $2.05 million, representing a 6.37% decrease in his position.
• Several equity analysts have given Akero Therapeutics a "Buy" rating, with an average target price of $81.57 per share, indicating a positive outlook on the company's performance.

Cubist Systematic Strategies LLC grew its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 479.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,960 shares of the company's stock after purchasing an additional 144,752 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.22% of Akero Therapeutics worth $7,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in AKRO. RTW Investments LP raised its stake in shares of Akero Therapeutics by 15.9% in the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock worth $190,840,000 after purchasing an additional 940,388 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Akero Therapeutics by 11.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,817,091 shares of the company's stock worth $194,997,000 after buying an additional 495,119 shares during the last quarter. Vanguard Group Inc. increased its position in Akero Therapeutics by 14.2% in the first quarter. Vanguard Group Inc. now owns 4,230,644 shares of the company's stock worth $171,256,000 after buying an additional 526,233 shares during the last quarter. Deep Track Capital LP grew its position in shares of Akero Therapeutics by 116.0% in the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock valued at $41,452,000 after purchasing an additional 800,216 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Akero Therapeutics by 93.3% in the first quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company's stock valued at $46,786,000 after purchasing an additional 557,794 shares in the last quarter.

Insider Activity

In other Akero Therapeutics news, 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 sale, the chief executive officer owned 556,487 shares in the company, valued at $30,078,122.35. The trade was a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Young sold 12,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $47.79, for a total transaction of $597,375.00. Following the transaction, the chief operating officer owned 197,484 shares of the company's stock, valued at $9,437,760.36. This represents a 5.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 197,406 shares of company stock valued at $10,144,055. 7.07% of the stock is currently owned by company insiders.

Akero Therapeutics Stock Down 1.5%

Shares of AKRO traded down $0.68 during midday trading on Monday, reaching $44.04. The stock had a trading volume of 97,737 shares, compared to its average volume of 1,369,560. 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's fifty day simple moving average is $49.62 and its two-hundred day simple moving average is $46.68. The company has a market cap of $3.52 billion, a price-to-earnings ratio of -22.16 and a beta of -0.24. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same quarter last year, the firm posted ($0.81) earnings per share. Equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on AKRO. Citigroup dropped their price target on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. TD Cowen assumed coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price objective for the company. HC Wainwright initiated coverage on shares of Akero Therapeutics in a research report on Thursday. They set a "buy" rating and a $72.00 target price for the company. Cowen started coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating for the company. Finally, Bank of America lifted their price target 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. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target 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.