Woodline Partners LP Raises Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Woodline Partners LP increased its stake in Akero Therapeutics by 26.5%, acquiring an additional 100,769 shares, bringing its total ownership to approximately $19.5 million.
• A significant number of other institutional investors, such as PNC Financial Services Group and Amalgamated Bank, also boosted their holdings during the same period, reflecting growing interest in Akero Therapeutics.
• Akero Therapeutics reported a lesser earnings loss than analysts expected, with an EPS of ($0.86), beating the consensus estimate of ($0.97) for the quarter.

Woodline Partners LP boosted its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 26.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 480,736 shares of the company's stock after purchasing an additional 100,769 shares during the quarter. Woodline Partners LP owned about 0.60% of Akero Therapeutics worth $19,460,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Northwest & Ethical Investments L.P. bought a new stake in shares of Akero Therapeutics in the 1st quarter worth approximately $32,000. GF Fund Management CO. LTD. bought a new stake in Akero Therapeutics in the fourth quarter worth $41,000. PNC Financial Services Group Inc. grew its stake in shares of Akero Therapeutics by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after acquiring an additional 390 shares during the last quarter. Amalgamated Bank grew its stake in shares of Akero Therapeutics by 19.0% in the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after acquiring an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Akero Therapeutics by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after acquiring an additional 338 shares in the last quarter.

Insider Buying and Selling at Akero Therapeutics

In related news, insider Catriona Yale sold 659 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $43.02, for a total transaction of $28,350.18. Following the completion of the sale, the insider owned 90,829 shares in the company, valued at approximately $3,907,463.58. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy Rolph sold 12,500 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $44.17, for a total value of $552,125.00. Following the completion of the transaction, the insider directly owned 167,124 shares in the company, valued at approximately $7,381,867.08. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,945 shares of company stock worth $9,517,250. 7.07% of the stock is owned by corporate insiders.

Akero Therapeutics Stock Performance

AKRO traded down $1.47 during midday trading on Friday, hitting $43.46. 1,309,138 shares of the company traded hands, compared to its average volume of 886,647. The company's 50-day moving average is $48.82 and its 200 day moving average is $46.53. 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 firm has a market capitalization of $3.48 billion, a PE ratio of -21.73 and a beta of -0.24. Akero Therapeutics, Inc. has a 52 week low of $21.34 and a 52 week high of $58.40.

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

Wall Street Analysts Forecast Growth

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