Emerald Advisers LLC Has $11.92 Million Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Emerald Advisers LLC cut its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 43.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,402 shares of the company's stock after selling 225,712 shares during the quarter. Emerald Advisers LLC owned about 0.37% of Akero Therapeutics worth $11,917,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AKRO. GF Fund Management CO. LTD. acquired a new position in shares of Akero Therapeutics during the fourth quarter worth approximately $41,000. Sterling Capital Management LLC increased its position in shares of Akero Therapeutics by 764.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after purchasing an additional 1,582 shares during the period. Quarry LP bought a new stake in shares of Akero Therapeutics during the fourth quarter valued at approximately $83,000. Amalgamated Bank increased its position 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 period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position 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 purchasing an additional 338 shares during the period.

Akero Therapeutics Price Performance

NASDAQ:AKRO traded up $1.84 during trading hours on Wednesday, reaching $53.60. The company had a trading volume of 1,482,483 shares, compared to its average volume of 1,056,628. The stock has a 50-day moving average of $49.94 and a two-hundred day moving average of $43.93. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40. The firm has a market capitalization of $4.27 billion, a PE ratio of -27.49 and a beta of -0.15. The company has a quick ratio of 16.80, a current ratio of 16.80 and a debt-to-equity ratio of 0.03.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of ($1.01) by $1.91. Analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Activity at Akero Therapeutics

In other news, CFO William Richard White sold 1,634 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $54.84, for a total transaction of $89,608.56. Following the sale, the chief financial officer owned 57,521 shares in the company, valued at approximately $3,154,451.64. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Scott A. Gangloff sold 848 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $54.84, for a total value of $46,504.32. Following the sale, the chief technology officer owned 23,452 shares in the company, valued at $1,286,107.68. The trade was a 3.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,156 shares of company stock valued at $11,589,728. 7.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AKRO shares. Citigroup lowered their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Bank of America boosted their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics currently has an average rating of "Buy" and an average target price of $82.50.

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.