200,534 Shares in Akero Therapeutics, Inc. $AKRO Purchased by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC has acquired a new stake in Akero Therapeutics, purchasing 200,534 shares valued at approximately $8.1 million, representing 0.25% ownership of the company.
• Several hedge funds have also shown increased interest in Akero, with notable investments including Principal Financial Group buying shares worth about $10.4 million.
• Wall Street analysts maintain a positive outlook on Akero Therapeutics, with an average price target of $81.14 and multiple firms issuing "buy" ratings.

Eventide Asset Management LLC acquired a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 200,534 shares of the company's stock, valued at approximately $8,119,000. Eventide Asset Management LLC owned approximately 0.25% of Akero Therapeutics at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. purchased a new stake in Akero Therapeutics during the 1st quarter valued at about $32,000. GF Fund Management CO. LTD. purchased a new stake in shares of Akero Therapeutics during the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. boosted its holdings in shares of Akero Therapeutics by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after acquiring an additional 390 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock valued at $104,000 after acquiring an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after acquiring an additional 338 shares during the last quarter.

Insider Buying and Selling

In related news, insider Timothy Rolph sold 12,500 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $49.30, for a total value of $616,250.00. Following the completion of the sale, the insider directly owned 167,124 shares of the company's stock, valued at $8,239,213.20. This represents a 6.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Young sold 12,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the sale, the chief operating officer directly owned 197,484 shares of the company's stock, valued at approximately $9,100,062.72. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,192 shares of company stock valued at $7,484,661 over the last quarter. 7.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AKRO. HC Wainwright began coverage on shares of Akero Therapeutics in a report on Thursday, September 4th. They issued a "buy" rating and a $72.00 price objective 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 report on Tuesday, May 13th. Bank of America raised their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Cowen began coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating on the stock. Finally, TD Cowen assumed coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating and a $76.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $81.14.

Akero Therapeutics Trading Down 2.5%

NASDAQ AKRO traded down $1.12 on Wednesday, hitting $43.51. 152,892 shares of the stock were exchanged, compared to its average volume of 1,364,528. 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 stock has a fifty day moving average price of $49.30 and a two-hundred day moving average price of $46.61. The firm has a market capitalization of $3.48 billion, a P/E ratio of -21.75 and a beta of -0.24. Akero Therapeutics, Inc. has a 52-week low of $21.34 and a 52-week high of $58.40.

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

Akero Therapeutics Company 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.