Exome Asset Management LLC Boosts Holdings in Akero Therapeutics, Inc. $AKRO

Key Points

• Exome Asset Management LLC increased its stake in Akero Therapeutics, acquiring an additional 7,771 shares, which represents an 11.3% increase in holdings during the first quarter and positions the stock as its 12th largest holding.
• Akero Therapeutics reported a loss of ($0.86) earnings per share for the last quarter, better than the consensus estimate of ($0.97), highlighting a slight improvement from the previous year's losses.
• Analysts have a generally positive outlook on Akero Therapeutics, with a consensus rating of "Buy" and a target price of $81.14, as several firms have upgraded their ratings recently.

Exome Asset Management LLC boosted its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,379 shares of the company's stock after acquiring an additional 7,771 shares during the period. Akero Therapeutics accounts for 2.6% of Exome Asset Management LLC's holdings, making the stock its 12th biggest position. Exome Asset Management LLC owned 0.10% of Akero Therapeutics worth $3,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. RTW Investments LP raised its holdings 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 buying an additional 940,388 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 worth $46,786,000 after buying an additional 557,794 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Akero Therapeutics in the first quarter worth $21,333,000. Vanguard Group Inc. raised its holdings in shares of 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. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of 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.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO traded up $1.68 during midday trading on Thursday, reaching $44.93. The company's stock had a trading volume of 1,072,618 shares, compared to its average volume of 890,311. The firm has a market capitalization of $3.59 billion, a PE ratio of -22.47 and a beta of -0.24. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $48.99 and a 200 day moving average of $46.56. Akero Therapeutics, Inc. has a twelve month low of $21.34 and a twelve month high of $58.40.

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

Analysts Set New Price Targets

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

Insider Activity at Akero Therapeutics

In related news, COO Jonathan Young sold 12,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $46.08, for a total transaction of $576,000.00. Following the sale, the chief operating officer owned 197,484 shares in the company, valued at approximately $9,100,062.72. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Patrick Lamy sold 2,000 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total transaction of $105,760.00. Following the transaction, the vice president directly owned 29,891 shares in the company, valued at approximately $1,580,636.08. The trade was a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,692 shares of company stock valued at $8,036,786 in the last quarter. 7.07% of the stock is currently owned by insiders.

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.