Baker BROS. Advisors LP Trims Holdings in Akero Therapeutics, Inc. $AKRO

Key Points

• Baker BROS. Advisors LP has reduced its holdings in Akero Therapeutics by 50%, now owning approximately 0.69% of the company, valued at $22.2 million.
• Insider Catriona Yale sold 10,000 shares at an average price of $54.23, marking a 9.78% decrease in her position, while another insider, Timothy Rolph, sold 25,000 shares.
• Akero Therapeutics has a consensus "Buy" rating from analysts, with a consensus target price set at $81.57 following several adjustments from various financial institutions.

Baker BROS. Advisors LP cut its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 50.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,713 shares of the company's stock after selling 548,369 shares during the quarter. Baker BROS. Advisors LP owned approximately 0.69% of Akero Therapeutics worth $22,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GF Fund Management CO. LTD. grew its position in shares of Akero Therapeutics by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock worth $72,000 after buying an additional 321 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Akero Therapeutics by 14.5% in the 1st 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 during the period. PNC Financial Services Group Inc. grew its position in shares of Akero Therapeutics by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after buying an additional 390 shares during the period. Amalgamated Bank grew its position in shares of Akero Therapeutics by 19.0% in the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after buying an additional 410 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Akero Therapeutics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock worth $220,000 after buying an additional 621 shares during the period.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, insider Catriona Yale sold 10,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $54.23, for a total transaction of $542,300.00. Following the transaction, the insider owned 92,231 shares in the company, valued at approximately $5,001,687.13. This represents a 9.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy Rolph sold 25,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $55.04, for a total transaction of $1,376,000.00. Following the sale, the insider directly owned 169,721 shares of the company's stock, valued at $9,341,443.84. The trade was a 12.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,406 shares of company stock worth $11,612,680 over the last quarter. 7.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AKRO has been the topic of a number of recent research reports. Citigroup reduced 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. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Bank of America upped their price target on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. TD Cowen began coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price target on the stock. Finally, Cowen began coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating on the stock. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $81.57.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $46.73 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -23.37 and a beta of -0.24. The firm's 50-day moving average is $50.45 and its 200 day moving average is $46.83. Akero Therapeutics, Inc. has a 1 year low of $21.34 and a 1 year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.11. During the same quarter in the prior year, the firm posted ($0.81) EPS. Sell-side analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

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.

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