Fox Run Management L.L.C. Makes New $642,000 Investment in Akero Therapeutics, Inc. $AKRO

Key Points

• Fox Run Management L.L.C. has acquired a new position in Akero Therapeutics, purchasing 15,848 shares valued at approximately $642,000 during the first quarter.
• Analysts have generally upgraded their outlook on Akero Therapeutics, with a consensus rating of "Moderate Buy" and a target price averaging $81.57.
• Insiders at Akero Therapeutics have sold significant amounts of stock recently, with COO Jonathan Young selling 12,500 shares and CEO Andrew Cheng selling 37,837 shares, indicating a decrease in their ownership of the company.

Fox Run Management L.L.C. purchased a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,848 shares of the company's stock, valued at approximately $642,000.

Other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. raised its holdings in shares of Akero Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock valued at $72,000 after buying an additional 321 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 acquiring an additional 338 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Akero Therapeutics by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after purchasing an additional 390 shares in the last quarter. Amalgamated Bank lifted its position in shares of 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 purchasing an additional 410 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its position in shares of Akero Therapeutics by 6.8% during the 4th 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 in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup lowered their price objective 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. 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. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Cowen began coverage on Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating for the company. Finally, Bank of America boosted their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $81.57.

Insider Buying and Selling at Akero Therapeutics

In related news, COO Jonathan Young sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $47.79, for a total value of $597,375.00. Following the completion of the transaction, the chief operating officer owned 197,484 shares of the company's stock, valued at approximately $9,437,760.36. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy Rolph sold 12,500 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $49.30, for a total transaction of $616,250.00. Following the sale, the insider directly owned 167,124 shares in the company, valued at approximately $8,239,213.20. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,406 shares of company stock valued at $11,813,920 over the last three months. 7.07% of the stock is owned by insiders.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO traded up $0.68 during mid-day trading on Friday, reaching $48.97. The company had a trading volume of 219,020 shares, compared to its average volume of 1,399,450. The company has a 50-day moving average price of $51.48 and a two-hundred day moving average price of $47.15. The stock has a market cap of $3.92 billion, a PE ratio of -24.41 and a beta of -0.28. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.11. During the same period last year, the business posted ($0.81) earnings per share. On average, equities analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current 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.