Bank of New York Mellon Corp Purchases 12,235 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Bank of New York Mellon Corp boosted its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,665 shares of the company's stock after acquiring an additional 12,235 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Akero Therapeutics worth $8,609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AKRO. GF Fund Management CO. LTD. bought a new stake in Akero Therapeutics during the fourth quarter worth $41,000. Sterling Capital Management LLC raised its position in shares of Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after purchasing an additional 1,582 shares during the period. Quarry LP bought a new position in shares of Akero Therapeutics in the fourth quarter valued at about $83,000. Amalgamated Bank raised its position in shares of Akero Therapeutics by 19.0% in the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock valued at $104,000 after purchasing an additional 410 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Akero Therapeutics by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after purchasing an additional 338 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective 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. Bank of America boosted 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Akero Therapeutics has a consensus rating of "Buy" and an average price target of $82.50.

Akero Therapeutics Price Performance

Shares of AKRO traded down $1.06 during mid-day trading on Thursday, reaching $50.76. The company had a trading volume of 268,477 shares, compared to its average volume of 1,450,956. The company's 50 day simple moving average is $51.35 and its 200 day simple moving average is $44.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.80 and a current ratio of 16.80. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of -26.03 and a beta of -0.15.

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

Insider Activity

In other news, VP Patrick Lamy sold 2,000 shares of Akero Therapeutics stock in a transaction 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 completion of the sale, the vice president owned 29,891 shares in the company, valued at $1,580,636.08. The trade was a 6.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Catriona Yale sold 10,000 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $52.95, for a total transaction of $529,500.00. Following the sale, the insider owned 91,488 shares of the company's stock, valued at $4,844,289.60. This trade represents a 9.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,906 shares of company stock worth $11,862,790. Company insiders own 7.07% of the company's stock.

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.