Akero Therapeutics, Inc. $AKRO Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc. reduced its stake in Akero Therapeutics by 8.3%, selling 17,400 shares, bringing its ownership to 191,448 shares valued at approximately $10.2 million.
• Insider trading activity included COO Jonathan Young selling 12,500 shares for around $576,000, reflecting a 5.95% decrease in his holdings.
• Akero Therapeutics reported a loss of ($0.86) EPS for the last quarter, beating analyst estimates of ($0.97), and has a consensus rating of "Hold" among analysts.

TD Asset Management Inc lowered its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,448 shares of the company's stock after selling 17,400 shares during the period. TD Asset Management Inc owned about 0.24% of Akero Therapeutics worth $10,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Akero Therapeutics by 11.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,817,091 shares of the company's stock valued at $194,997,000 after purchasing an additional 495,119 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Akero Therapeutics by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 4,230,644 shares of the company's stock valued at $171,256,000 after acquiring an additional 526,233 shares during the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Akero Therapeutics by 1.4% in the 1st quarter. Long Focus Capital Management LLC now owns 729,504 shares of the company's stock valued at $29,530,000 after acquiring an additional 9,900 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Akero Therapeutics by 5.9% in the 1st quarter. Northern Trust Corp now owns 656,733 shares of the company's stock valued at $26,585,000 after acquiring an additional 36,412 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Akero Therapeutics by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 582,254 shares of the company's stock valued at $23,570,000 after acquiring an additional 41,562 shares during the last quarter.

Insider Buying and Selling

In other Akero Therapeutics news, COO Jonathan Young sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the sale, the chief operating officer directly owned 197,484 shares of the company's stock, valued at approximately $9,100,062.72. This trade represents a 5.95% decrease in their position. 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 that occurred on Monday, September 8th. The stock was sold at an average price of $44.17, for a total value of $552,125.00. Following the sale, the insider directly owned 167,124 shares of the company's stock, valued at $7,381,867.08. The trade was a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 169,253 shares of company stock worth $8,072,314 in the last quarter. 7.07% of the stock is owned by insiders.

Akero Therapeutics Trading Up 0.3%

NASDAQ:AKRO opened at $53.84 on Friday. The stock's 50 day moving average price is $47.48 and its 200 day moving average price is $47.23. The company has a market capitalization of $4.31 billion, a PE ratio of -26.92 and a beta of -0.29. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. 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 results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same period in the previous year, the company posted ($0.81) EPS. On average, research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on AKRO shares. Wolfe Research downgraded Akero Therapeutics from an "outperform" rating to a "hold" rating in a report on Friday, October 10th. HC Wainwright reiterated a "neutral" rating and issued a $54.00 price objective (down previously from $72.00) on shares of Akero Therapeutics in a report on Friday, October 10th. Wall Street Zen downgraded Akero Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Lifesci Capital downgraded Akero Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Finally, Cowen started coverage on Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating on the stock. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Akero Therapeutics has a consensus rating of "Hold" and a consensus target price of $73.38.

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.

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