Akero Therapeutics, Inc. $AKRO Stock Holdings Boosted by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Akero Therapeutics by 7.7%, owning approximately 582,254 shares valued at $23.57 million after acquiring an additional 41,562 shares in Q1.
• Multiple institutional investors, including Vanguard Group and RTW Investments, have also boosted their holdings in Akero Therapeutics by significant percentages in recent quarters.
• Akero Therapeutics recently reported earnings of ($0.86) per share, surpassing expectations, and analysts have set an average price target of $81.57 for the stock, with a consensus rating of "Buy."

Charles Schwab Investment Management Inc. increased its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 582,254 shares of the company's stock after buying an additional 41,562 shares during the period. Charles Schwab Investment Management Inc. owned about 0.73% of Akero Therapeutics worth $23,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in Akero Therapeutics during the fourth quarter worth about $41,000. PNC Financial Services Group Inc. raised its position in Akero Therapeutics by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after acquiring an additional 390 shares during the last quarter. Sterling Capital Management LLC raised its position in Akero Therapeutics by 764.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after acquiring an additional 1,582 shares during the last quarter. Amalgamated Bank raised its position in Akero Therapeutics by 19.0% during the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after acquiring an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Akero Therapeutics by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock worth $114,000 after acquiring an additional 338 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. TD Cowen assumed coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating and a $76.00 target price for the company. Citigroup cut their target price on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Bank of America lifted their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Cowen assumed coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating for the company. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $81.57.

Insider Buying and Selling at Akero Therapeutics

In other news, insider Catriona Yale sold 10,000 shares of the business's stock in a transaction on 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 directly owned 92,231 shares of the company's stock, valued at approximately $5,001,687.13. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy Rolph sold 25,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $55.04, for a total transaction of $1,376,000.00. Following the transaction, the insider directly owned 169,721 shares in the company, valued at approximately $9,341,443.84. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 226,406 shares of company stock valued at $11,813,920. 7.07% of the stock is currently owned by corporate insiders.

Akero Therapeutics Trading Up 2.3%

Akero Therapeutics stock traded up $1.09 during trading on Tuesday, reaching $48.12. The company had a trading volume of 589,611 shares, compared to its average volume of 1,058,639. Akero Therapeutics, Inc. has a 12-month low of $21.34 and a 12-month high of $58.40. The stock's 50 day moving average price is $51.04 and its two-hundred day moving average price is $46.93. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -24.06 and a beta of -0.28. 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 (NASDAQ:AKRO - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same quarter in the previous year, the company earned ($0.81) earnings per share. As a group, equities analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

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.