Algert Global LLC Buys 15,195 Shares of Akero Therapeutics, Inc. $AKRO

Key Points

• Algert Global LLC increased its stake in Akero Therapeutics by 25.4% in Q1, now holding a total of 74,929 shares valued at approximately $3,033,000.
• Numerous institutional investors have also raised their holdings in Akero Therapeutics, including PNC Financial Services, which increased its stake by 30.8%.
• Akero Therapeutics reported a EPS of (-$0.86) for the last quarter, exceeding analyst expectations of (-$0.97) per share.

Algert Global LLC increased its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 25.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,929 shares of the company's stock after purchasing an additional 15,195 shares during the quarter. Algert Global LLC owned approximately 0.09% of Akero Therapeutics worth $3,033,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GF Fund Management CO. LTD. raised its holdings in Akero Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock valued at $72,000 after acquiring an additional 321 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 during the period. PNC Financial Services Group Inc. raised its holdings in Akero Therapeutics by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after acquiring an additional 390 shares during the period. Amalgamated Bank raised its holdings in 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 acquiring an additional 410 shares during the period. Finally, Summit Investment Advisors Inc. raised its holdings in Akero Therapeutics by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after acquiring an additional 450 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have commented on AKRO shares. TD Cowen started coverage on Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating and a $76.00 price target on the stock. Bank of America raised their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Cowen began coverage on Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating on the stock. Citigroup cut their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $81.57.

Insider Buying and Selling

In related news, insider Catriona Yale sold 10,000 shares of Akero Therapeutics 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 completion of the transaction, the insider owned 92,231 shares in the company, valued at approximately $5,001,687.13. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cheng sold 37,837 shares of Akero Therapeutics stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total value of $2,045,089.85. Following the completion of the transaction, the chief executive officer owned 556,487 shares of the company's stock, valued at approximately $30,078,122.35. This represents a 6.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,406 shares of company stock worth $11,813,920. Insiders own 7.07% of the company's stock.

Akero Therapeutics Trading Up 0.7%

Shares of Akero Therapeutics stock opened at $47.95 on Thursday. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of -23.98 and a beta of -0.28. The business has a 50-day moving average price of $51.59 and a 200-day moving average price of $47.19. 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 twelve month low of $21.34 and a twelve month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same period in the previous year, the business posted ($0.81) EPS. Equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS 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.

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