Allianz Asset Management GmbH Invests $518,000 in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Key Points

• Allianz Asset Management GmbH invested approximately $518,000 in Akero Therapeutics by purchasing 12,800 shares during the first quarter of the year.
• Insider Catriona Yale sold 10,000 shares at an average price of $52.95, indicating a 9.85% decrease in their holdings.
• Akero Therapeutics has received a consensus "Buy" rating from six analysts, with a target price increase to $64.00 from Bank of America.

Allianz Asset Management GmbH purchased a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,800 shares of the company's stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in shares of Akero Therapeutics in the fourth quarter valued at $41,000. Sterling Capital Management LLC grew its stake in shares of Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after acquiring an additional 1,582 shares in the last quarter. Amalgamated Bank grew its stake in Akero Therapeutics by 19.0% during the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after buying an additional 410 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $114,000 after buying an additional 338 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Akero Therapeutics during the first quarter worth about $120,000.

Insider Activity at Akero Therapeutics

In other news, insider Catriona Yale sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $52.95, for a total transaction of $529,500.00. Following the completion of the sale, the insider owned 91,488 shares of the company's stock, valued at $4,844,289.60. This trade represents a 9.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Patrick Lamy sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $52.88, for a total transaction of $105,760.00. Following the sale, the vice president directly owned 29,891 shares of the company's stock, valued at approximately $1,580,636.08. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,906 shares of company stock worth $11,862,790. Corporate insiders own 7.07% of the company's stock.

Akero Therapeutics Stock Down 1.0%

NASDAQ:AKRO opened at $48.37 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.80 and a quick ratio of 16.80. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40. The firm's 50 day simple moving average is $52.04 and its 200 day simple moving average is $46.15. The company has a market cap of $3.86 billion, a PE ratio of -24.81 and a beta of -0.28.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America increased their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Citigroup cut their target price on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Akero Therapeutics currently has an average rating of "Buy" and a consensus 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.

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