Ameriprise Financial Inc. Invests $422,000 in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Ameriprise Financial Inc. bought a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,172 shares of the company's stock, valued at approximately $422,000.

A number of other large investors have also recently added to or reduced their stakes in AKRO. 5AM Venture Management LLC bought a new stake in shares of Akero Therapeutics in the fourth quarter valued at about $4,590,000. Foresite Capital Management VI LLC acquired a new stake in Akero Therapeutics in the 4th quarter valued at approximately $10,154,000. Northern Trust Corp lifted its stake in Akero Therapeutics by 6.1% in the 4th quarter. Northern Trust Corp now owns 620,321 shares of the company's stock valued at $17,257,000 after acquiring an additional 35,737 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Akero Therapeutics by 29.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 124,592 shares of the company's stock worth $3,466,000 after acquiring an additional 28,043 shares during the last quarter. Finally, Quarry LP acquired a new position in Akero Therapeutics during the 4th quarter worth approximately $83,000.

Analysts Set New Price Targets

AKRO has been the topic of a number of recent research reports. Bank of America lifted their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Citigroup lowered their price target on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. HC Wainwright boosted their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $82.50.

Akero Therapeutics Stock Up 0.6%

AKRO traded up $0.34 during trading on Friday, reaching $54.28. 1,473,029 shares of the stock were exchanged, compared to its average volume of 991,713. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The stock's 50 day moving average price is $41.99 and its two-hundred day moving average price is $39.35. Akero Therapeutics, Inc. has a twelve month low of $20.34 and a twelve month high of $58.40. The stock has a market cap of $4.33 billion, a P/E ratio of -14.47 and a beta of -0.12.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of ($1.01) by $1.91. Equities analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Insider Buying and Selling

In other news, VP Patrick Lamy sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $50.31, for a total value of $201,240.00. Following the completion of the sale, the vice president now directly owns 33,492 shares of the company's stock, valued at $1,684,982.52. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Cheng sold 1,738 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total value of $78,001.44. Following the transaction, the chief executive officer now directly owns 654,324 shares in the company, valued at $29,366,061.12. The trade was a 0.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,708 shares of company stock worth $6,666,819. Company insiders own 7.94% of the company's stock.

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.