Allostery Investments LP Takes $729,000 Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Allostery Investments LP has invested approximately $729,000 in Akero Therapeutics, acquiring 18,000 shares, making it the 23rd largest holding in their portfolio.
• Akero Therapeutics' stock experienced a decline of 2.8%, trading at around $45.44, with a market cap of $3.63 billion.
• Insider sales have occurred recently, with CEO Andrew Cheng selling 30,000 shares for approximately $1.46 million, reflecting a 5.76% decrease in his ownership.

Allostery Investments LP bought a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,000 shares of the company's stock, valued at approximately $729,000. Akero Therapeutics accounts for approximately 1.1% of Allostery Investments LP's portfolio, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. RTW Investments LP grew its stake in Akero Therapeutics by 15.9% in the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock valued at $190,840,000 after buying an additional 940,388 shares during the last quarter. Deep Track Capital LP raised its stake in shares of Akero Therapeutics by 116.0% during the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock worth $41,452,000 after buying an additional 800,216 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Akero Therapeutics during the fourth quarter valued at approximately $18,059,000. SG Americas Securities LLC boosted its holdings in shares of Akero Therapeutics by 93.3% in the first quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company's stock valued at $46,786,000 after buying an additional 557,794 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Akero Therapeutics in the first quarter worth $21,333,000.

Insider Buying and Selling at Akero Therapeutics

In other news, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.59, for a total transaction of $1,457,700.00. Following the transaction, the chief executive officer owned 490,757 shares of the company's stock, valued at approximately $23,845,882.63. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy Rolph sold 12,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $49.30, for a total transaction of $616,250.00. Following the sale, the insider owned 167,124 shares in the company, valued at approximately $8,239,213.20. This trade represents a 6.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,406 shares of company stock worth $10,144,055. Corporate insiders own 7.07% of the company's stock.

Akero Therapeutics Stock Down 1.0%

NASDAQ:AKRO traded down $0.47 during mid-day trading on Monday, hitting $44.26. 262,314 shares of the company's stock traded hands, compared to its average volume of 1,370,286. Akero Therapeutics, Inc. has a twelve month low of $21.34 and a twelve month 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 company has a market capitalization of $3.54 billion, a P/E ratio of -22.05 and a beta of -0.24. The company has a fifty day moving average of $49.62 and a 200 day moving average of $46.68.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced 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 firm posted ($0.81) EPS. On average, analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on AKRO shares. Bank of America raised their price target on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. HC Wainwright assumed coverage on shares of Akero Therapeutics in a research note on Thursday. They issued a "buy" rating and a $72.00 price objective for the company. Cowen initiated coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating on the stock. TD Cowen initiated coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price objective on the stock. Finally, Citigroup cut their target price on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $81.14.

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.