Akero Therapeutics, Inc. $AKRO Shares Purchased by Long Focus Capital Management LLC

Key Points

• Long Focus Capital Management LLC increased its stake in Akero Therapeutics by 1.4% during the first quarter, holding approximately 729,504 shares valued at about $29.5 million.
• Insider selling has occurred, with notable transactions including Catriona Yale selling 10,000 shares and Timothy Rolph selling 25,000 shares, collectively decreasing their ownership by nearly 10% each.
• Akero Therapeutics recently reported earnings of ($0.86) per share for the quarter, surpassing analyst estimates of ($0.97), and is currently rating "Buy" from multiple analysts with a consensus target price of $81.57.

Long Focus Capital Management LLC boosted its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 729,504 shares of the company's stock after buying an additional 9,900 shares during the quarter. Akero Therapeutics makes up 1.0% of Long Focus Capital Management LLC's holdings, making the stock its 23rd biggest position. Long Focus Capital Management LLC owned about 0.92% of Akero Therapeutics worth $29,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AKRO. RTW Investments LP raised its holdings in Akero Therapeutics by 15.9% in the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock valued at $190,840,000 after acquiring an additional 940,388 shares during the last quarter. Deep Track Capital LP increased its holdings in shares of Akero Therapeutics by 116.0% during the 4th quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock worth $41,452,000 after buying an additional 800,216 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Akero Therapeutics during the 4th quarter worth approximately $18,059,000. SG Americas Securities LLC increased its holdings in shares of Akero Therapeutics by 93.3% during the 1st 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. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Akero Therapeutics during the 1st quarter worth approximately $21,333,000.

Akero Therapeutics Stock Performance

AKRO traded down $2.19 during trading on Thursday, reaching $43.43. The company's stock had a trading volume of 743,549 shares, compared to its average volume of 1,367,683. Akero Therapeutics, Inc. has a 52-week low of $21.34 and a 52-week high of $58.40. The company's fifty day moving average price is $50.09 and its 200-day moving average price is $46.81. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -21.72 and a beta of -0.24. 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 (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same quarter in the previous year, the company posted ($0.81) EPS. On average, equities analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Timothy Rolph sold 25,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $55.04, for a total transaction of $1,376,000.00. Following the completion of the transaction, the insider owned 169,721 shares of the company's stock, valued at $9,341,443.84. This represents a 12.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Catriona Yale sold 10,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $54.23, for a total value of $542,300.00. Following the sale, the insider owned 92,231 shares of the company's stock, valued at $5,001,687.13. The trade was a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,906 shares of company stock valued at $10,944,055 in the last 90 days. Company insiders own 7.07% of the company's stock.

Analyst Upgrades and Downgrades

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

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.