Walleye Capital LLC Trims Stock Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Walleye Capital LLC significantly reduced its stake in Akero Therapeutics by 45.8%, selling 61,721 shares and retaining 72,984 shares valued at approximately $2,954,000.
• Meanwhile, other investors like RTW Investments LP and Deep Track Capital LP increased their positions in the company by 15.9% and 116.0%, respectively, indicating varying investment strategies among large stakeholders.
• Despite recent insider sales, analysts maintain a consensus "Buy" rating for Akero Therapeutics, with an average target price set at $81.57.

Walleye Capital LLC lessened its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 45.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 72,984 shares of the company's stock after selling 61,721 shares during the period. Walleye Capital LLC owned about 0.09% of Akero Therapeutics worth $2,954,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AKRO. Renaissance Technologies LLC acquired a new position in shares of Akero Therapeutics in the fourth quarter worth $579,000. Dimensional Fund Advisors LP grew its stake in shares of Akero Therapeutics by 6,229.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 449,110 shares of the company's stock worth $12,495,000 after acquiring an additional 442,014 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Akero Therapeutics by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 41,565 shares of the company's stock worth $1,156,000 after acquiring an additional 2,322 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Akero Therapeutics by 770.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,188 shares of the company's stock worth $450,000 after acquiring an additional 14,329 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Akero Therapeutics by 8.5% in the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock worth $220,000 after acquiring an additional 621 shares in the last quarter.

Insider Transactions at Akero Therapeutics

In related news, VP Patrick Lamy sold 2,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total value of $105,760.00. Following the completion of the sale, the vice president directly owned 29,891 shares of the company's stock, valued at $1,580,636.08. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Young sold 12,500 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $47.79, for a total transaction of $597,375.00. Following the completion of the sale, the chief operating officer directly owned 197,484 shares of the company's stock, valued at approximately $9,437,760.36. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,406 shares of company stock valued at $11,612,680 over the last quarter. 7.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on AKRO. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Cowen began coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating for the company. TD Cowen began 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 for the company. Citigroup dropped their price target on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Bank of America boosted their price target 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. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $81.57.

Akero Therapeutics Stock Down 0.4%

Shares of AKRO stock traded down $0.21 on Monday, reaching $46.73. 497,456 shares of the stock were exchanged, compared to its average volume of 993,653. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. The business's 50 day moving average price is $50.59 and its 200 day moving average price is $46.85. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -23.37 and a beta of -0.24. 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 issued its earnings results 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 last year, the company posted ($0.81) EPS. As a group, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

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.