American Century Companies Inc. Sells 102,396 Shares of Akero Therapeutics, Inc. $AKRO

Key Points

• American Century Companies Inc. has significantly reduced its ownership in Akero Therapeutics, cutting its holdings by 91.1% to just 10,046 shares, valued at approximately $407,000.
• Dimensional Fund Advisors LP drastically expanded its position in Akero Therapeutics, increasing its holdings by 6,229.1% during the 4th quarter, owning 449,110 shares worth about $12.5 million.
• Akero Therapeutics reported earnings of ($0.86) per share for the latest quarter, surpassing expectations while the company's stock has a consensus rating of Buy with an average target price of $81.14.

American Century Companies Inc. cut its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 91.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,046 shares of the company's stock after selling 102,396 shares during the period. American Century Companies Inc.'s holdings in Akero Therapeutics were worth $407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tema Etfs LLC purchased a new position in Akero Therapeutics during the fourth quarter valued at approximately $894,000. Principal Financial Group Inc. purchased a new position in Akero Therapeutics during the first quarter valued at approximately $10,404,000. Cubist Systematic Strategies LLC acquired a new stake in Akero Therapeutics in the fourth quarter valued at approximately $840,000. RTW Investments LP lifted its stake in Akero Therapeutics by 15.9% in the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock valued at $190,840,000 after acquiring an additional 940,388 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Akero Therapeutics in the fourth quarter valued at approximately $422,000.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock traded up $1.68 on Thursday, reaching $44.93. The stock had a trading volume of 1,072,618 shares, compared to its average volume of 890,311. The business's 50-day moving average price is $48.99 and its two-hundred day moving average price is $46.56. 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 has a market cap of $3.59 billion, a P/E ratio of -22.47 and a beta of -0.24.

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, topping analysts' consensus estimates of ($0.97) by $0.11. During the same quarter last year, the firm earned ($0.81) earnings per share. On average, sell-side analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Andrew Cheng sold 30,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 490,757 shares in the company, valued at $23,845,882.63. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jonathan Young sold 12,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the sale, the chief operating officer directly owned 197,484 shares of the company's stock, valued at approximately $9,100,062.72. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,692 shares of company stock valued at $8,036,786 in the last three months. Company insiders own 7.07% of the company's stock.

Wall Street Analysts Forecast Growth

AKRO has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Cowen initiated coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating for the company. HC Wainwright initiated coverage on shares of Akero Therapeutics in a research note on Thursday, September 4th. They issued a "buy" rating and a $72.00 target price for the company. Finally, TD Cowen initiated coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 target price for the company. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $81.14.

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.