D. E. Shaw & Co. Inc. Reduces Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

D. E. Shaw & Co. Inc. trimmed its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 71.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 35,809 shares of the company's stock after selling 89,573 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.05% of Akero Therapeutics worth $996,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AKRO. Deep Track Capital LP lifted its stake 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 worth $41,452,000 after purchasing an additional 800,216 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Akero Therapeutics during the fourth quarter worth $18,059,000. SG Americas Securities LLC lifted its stake in Akero Therapeutics by 4,022.1% during the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock worth $16,636,000 after purchasing an additional 583,486 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Akero Therapeutics by 13.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company's stock worth $120,238,000 after purchasing an additional 513,613 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Akero Therapeutics by 6,229.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 449,110 shares of the company's stock worth $12,495,000 after purchasing an additional 442,014 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have commented on AKRO shares. Bank of America upped their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday. Citigroup decreased their price target on 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 increased their target price on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Morgan Stanley reiterated an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Finally, Canaccord Genuity Group upped their price objective on Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Akero Therapeutics currently has an average rating of "Buy" and an average target price of $82.50.

Akero Therapeutics Stock Down 0.8%

Shares of Akero Therapeutics stock traded down $0.36 during trading hours on Tuesday, reaching $46.00. 3,599,252 shares of the company were exchanged, compared to its average volume of 964,134. Akero Therapeutics, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The stock's fifty day moving average is $41.01 and its 200 day moving average is $38.40. 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 firm has a market cap of $3.67 billion, a PE ratio of -12.27 and a beta of -0.12.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data 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. As a group, equities research analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Activity at Akero Therapeutics

In related news, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $35.23, for a total value of $1,056,900.00. Following the transaction, the chief executive officer now owns 624,324 shares of the company's stock, valued at $21,994,934.52. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Patrick Lamy sold 4,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $50.00, for a total value of $200,000.00. Following the completion of the transaction, the vice president now directly owns 33,492 shares in the company, valued at $1,674,600. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 223,208 shares of company stock valued at $9,313,294 over the last quarter. 7.94% of the stock is owned by insiders.

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.