Akero Therapeutics, Inc. $AKRO Shares Sold by Baker BROS. Advisors LP

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 reduced its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent 13F filing with the 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 0.69% of Akero Therapeutics worth $22,212,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other news, VP Patrick Lamy sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total value of $105,760.00. Following the transaction, the vice president owned 29,891 shares in the company, valued at approximately $1,580,636.08. This represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was 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 owned 490,757 shares in the company, valued at $23,845,882.63. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,406 shares of company stock valued at $10,144,055. Insiders own 7.07% of the company's stock.

Akero Therapeutics Stock Performance

Akero Therapeutics stock traded up $0.69 during mid-day trading on Friday, reaching $44.72. The company's stock had a trading volume of 2,341,203 shares, compared to its average volume of 883,352. Akero Therapeutics, Inc. has a 12-month low of $21.34 and a 12-month high of $58.40. The company has a market capitalization of $3.58 billion, a P/E ratio of -22.36 and a beta of -0.24. 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 firm's fifty day moving average price is $49.62 and its two-hundred day moving average price is $46.68.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. HC Wainwright initiated coverage on Akero Therapeutics in a report on Thursday. They issued a "buy" rating and a $72.00 target price for the company. Bank of America lifted their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Citigroup lowered their target price on 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 raised Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, TD Cowen began coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Akero Therapeutics has a consensus 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.