Edgestream Partners L.P. purchased a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,947 shares of the company's stock, valued at approximately $281,000.
Several other institutional investors have also modified their holdings of AKRO. GF Fund Management CO. LTD. grew its position in shares of Akero Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock valued at $72,000 after purchasing an additional 321 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 in the last quarter. Amalgamated Bank grew 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 in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Akero Therapeutics by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after acquiring an additional 450 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Akero Therapeutics by 8.5% in the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after acquiring an additional 621 shares during the last quarter.
Akero Therapeutics Trading Up 1.0%
AKRO stock traded up $0.50 during midday trading on Tuesday, hitting $51.88. The stock had a trading volume of 774,256 shares, compared to its average volume of 1,052,794. The firm has a market cap of $4.14 billion, a PE ratio of -26.60 and a beta of -0.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.80 and a quick ratio of 16.80. Akero Therapeutics, Inc. has a 12-month low of $21.34 and a 12-month high of $58.40. The company's 50-day moving average price is $50.63 and its 200 day moving average price is $44.58.
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, beating the consensus estimate of ($1.01) by $1.91. On average, equities research analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.
Insider Buying and Selling at Akero Therapeutics
In related news, CTO Scott A. Gangloff sold 848 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $54.84, for a total value of $46,504.32. Following the completion of the sale, the chief technology officer owned 23,452 shares in the company, valued at approximately $1,286,107.68. This represents a 3.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 30,000 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $51.16, for a total transaction of $1,534,800.00. Following the transaction, the chief executive officer owned 520,757 shares in the company, valued at $26,641,928.12. This represents a 5.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,156 shares of company stock worth $12,119,228. 7.07% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research firms have commented on AKRO. 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, May 27th. Citigroup reduced their price objective 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $82.50.
Read Our Latest Research Report on Akero Therapeutics
About Akero Therapeutics
(
Free Report)
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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