Fox Run Management L.L.C. Acquires Shares of 15,848 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 stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,848 shares of the company's stock, valued at approximately $642,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in Akero Therapeutics during the 4th quarter valued at $41,000. PNC Financial Services Group Inc. increased its stake in shares of Akero Therapeutics by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock valued at $67,000 after buying an additional 390 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after acquiring an additional 1,582 shares in the last quarter. Amalgamated Bank raised its holdings 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 acquiring an additional 410 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake 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 worth $114,000 after acquiring an additional 338 shares during the period.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, insider Timothy Rolph sold 12,500 shares of Akero Therapeutics stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $49.30, for a total transaction of $616,250.00. Following the completion of the transaction, the insider owned 167,124 shares in the company, valued at approximately $8,239,213.20. This trade represents a 6.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jonathan Young sold 12,500 shares of the business's stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 226,406 shares of company stock valued at $11,813,920. 7.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Akero Therapeutics Stock Performance

AKRO traded up $0.3520 on Thursday, reaching $48.3020. 341,721 shares of the stock were exchanged, compared to its average volume of 1,405,605. The company's 50-day moving average price is $51.59 and its 200 day moving average price is $47.19. Akero Therapeutics, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66. The firm has a market capitalization of $3.86 billion, a PE ratio of -24.19 and a beta of -0.28.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data 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 earned ($0.81) earnings per share. As a group, sell-side analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS 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.