Akero Therapeutics, Inc. $AKRO Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 32.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,251,369 shares of the company's stock after selling 587,912 shares during the quarter. Alliancebernstein L.P. owned about 1.57% of Akero Therapeutics worth $50,655,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Tema Etfs LLC acquired a new stake in Akero Therapeutics during the 4th quarter worth $894,000. Principal Financial Group Inc. acquired a new stake in Akero Therapeutics during the 1st quarter worth $10,404,000. Cubist Systematic Strategies LLC acquired a new stake in Akero Therapeutics during the 4th quarter worth $840,000. RTW Investments LP boosted its stake in shares of Akero Therapeutics by 15.9% during the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock worth $190,840,000 after buying an additional 940,388 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Akero Therapeutics during the fourth quarter worth about $422,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Cowen assumed coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They set a "buy" rating for the company. TD Cowen initiated coverage on Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating and a $76.00 price objective for the company. HC Wainwright initiated coverage on Akero Therapeutics in a report on Thursday, September 4th. They set a "buy" rating and a $72.00 price target for the company. Bank of America increased their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Wall Street Zen raised Akero Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, Akero Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $81.14.

Akero Therapeutics Price Performance

Akero Therapeutics stock traded down $1.04 during midday trading on Friday, reaching $43.89. The company's stock had a trading volume of 485,259 shares, compared to its average volume of 1,363,511. Akero Therapeutics, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66. The stock's 50 day simple moving average is $48.99 and its 200 day simple moving average is $46.56. The firm has a market capitalization of $3.51 billion, a PE ratio of -21.94 and a beta of -0.24.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.86) EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same period last year, the company posted ($0.81) earnings per share. On average, equities research 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, VP Patrick Lamy sold 2,000 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total transaction of $105,760.00. Following the completion of the sale, the vice president directly owned 29,891 shares in the company, valued at approximately $1,580,636.08. This trade represents a 6.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $52.95, for a total value of $529,500.00. Following the transaction, the insider directly owned 91,488 shares of the company's stock, valued at approximately $4,844,289.60. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,692 shares of company stock worth $8,036,786. 7.07% of the stock is currently owned by company 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.