Akero Therapeutics, Inc. $AKRO Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has increased its holdings in Akero Therapeutics by 54.4% in Q1, owning approximately 0.07% of the company worth $2.37 million.
• Research analysts have mixed views on the stock, with Wall Street Zen downgrading it to "sell" while others including Bank of America and HC Wainwright have issued "buy" ratings, boosting price targets up to $76.00.
• Recent insider trading revealed significant sales, with COO Jonathan Young selling 12,500 shares valued at approximately $597,375, reflecting a 5.95% decrease in his position.

Intech Investment Management LLC increased its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 54.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,522 shares of the company's stock after buying an additional 20,620 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Akero Therapeutics worth $2,369,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northwest & Ethical Investments L.P. purchased a new stake in shares of Akero Therapeutics during the first quarter worth $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. boosted its position 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 acquiring an additional 390 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Akero Therapeutics by 19.0% during the first 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. raised its holdings in Akero Therapeutics by 14.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock worth $114,000 after acquiring an additional 338 shares during the last quarter.

Akero Therapeutics Stock Down 2.1%

Shares of AKRO traded down $0.98 during midday trading on Friday, reaching $45.22. The stock had a trading volume of 2,770,932 shares, compared to its average volume of 1,035,749. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40. The company's fifty day simple moving average is $48.07 and its two-hundred day simple moving average is $46.42. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -22.61 and a beta of -0.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly 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 business earned ($0.81) EPS. Equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

AKRO has been the subject of a number of analyst reports. TD Cowen initiated coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. Cowen began coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They set a "buy" rating for the company. 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 on the stock. Bank of America upped their price target on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Wall Street Zen downgraded shares of Akero Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $81.14.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, insider Catriona Yale sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $52.95, for a total transaction of $529,500.00. Following the transaction, the insider directly owned 91,488 shares of the company's stock, valued at approximately $4,844,289.60. This trade represents a 9.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.59, for a total transaction of $1,457,700.00. Following the completion of the sale, the chief executive officer directly owned 490,757 shares in the company, valued at approximately $23,845,882.63. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,753 shares of company stock worth $8,088,599 in the last three months. Company insiders own 7.07% of the company's stock.

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.