Akero Therapeutics, Inc. $AKRO Stock Holdings Increased by Algert Global LLC

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

A number of other institutional investors have also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. purchased a new stake in Akero Therapeutics during the first quarter valued at about $32,000. Aberdeen Group plc grew its position in Akero Therapeutics by 50.8% during the first quarter. Aberdeen Group plc now owns 406,700 shares of the company's stock valued at $16,463,000 after acquiring an additional 136,918 shares during the period. Fox Run Management L.L.C. purchased a new stake in Akero Therapeutics during the first quarter valued at about $642,000. Sei Investments Co. grew its position in Akero Therapeutics by 26.5% during the first quarter. Sei Investments Co. now owns 13,769 shares of the company's stock valued at $519,000 after acquiring an additional 2,882 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Akero Therapeutics during the first quarter valued at about $21,333,000.

Akero Therapeutics Stock Up 2.3%

Shares of NASDAQ:AKRO traded up $1.09 during trading on Tuesday, hitting $48.12. The company's stock had a trading volume of 589,611 shares, compared to its average volume of 1,058,639. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66. Akero Therapeutics, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The stock's 50-day moving average price is $51.04 and its two-hundred day moving average price is $46.93. The company has a market capitalization of $3.85 billion, a PE ratio of -24.06 and a beta of -0.28.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same period last year, the firm posted ($0.81) earnings per share. As a group, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Timothy Rolph sold 25,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $55.04, for a total value of $1,376,000.00. Following the completion of the sale, the insider directly owned 169,721 shares of the company's stock, valued at $9,341,443.84. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Catriona Yale sold 10,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $54.23, for a total value of $542,300.00. Following the completion of the sale, the insider directly owned 92,231 shares of the company's stock, valued at approximately $5,001,687.13. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 226,406 shares of company stock worth $11,813,920. 7.07% of the stock is owned by insiders.

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.