GAMMA Investing LLC Grows Stock Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

GAMMA Investing LLC boosted its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 8,057.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,849 shares of the company's stock after buying an additional 10,716 shares during the period. GAMMA Investing LLC's holdings in Akero Therapeutics were worth $439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RTW Investments LP increased its stake in Akero Therapeutics by 15.9% in the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock worth $190,840,000 after purchasing an additional 940,388 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of 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 valued at $120,238,000 after buying an additional 513,613 shares during the period. Vanguard Group Inc. increased its stake in shares of Akero Therapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company's stock valued at $103,057,000 after buying an additional 27,830 shares during the period. Deep Track Capital LP increased its stake in shares of Akero Therapeutics by 116.0% during the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock valued at $41,452,000 after buying an additional 800,216 shares during the period. Finally, Rock Springs Capital Management LP increased its stake in shares of Akero Therapeutics by 1.4% during the fourth quarter. Rock Springs Capital Management LP now owns 946,499 shares of the company's stock valued at $26,332,000 after buying an additional 13,100 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AKRO. HC Wainwright raised their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Bank of America raised their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Citigroup reduced their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $82.50.

Akero Therapeutics Stock Down 0.9%

Shares of AKRO stock opened at $54.90 on Friday. The stock has a 50 day moving average of $45.51 and a 200 day moving average of $40.94. The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03. The stock has a market cap of $4.38 billion, a P/E ratio of -28.15 and a beta of -0.16. Akero Therapeutics, Inc. has a twelve month low of $21.02 and a twelve month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly 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. As a group, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Insider Activity

In other news, COO Jonathan Young sold 2,493 shares of Akero Therapeutics stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $53.99, for a total transaction of $134,597.07. Following the transaction, the chief operating officer now owns 198,047 shares in the company, valued at $10,692,557.53. The trade was a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G. Walmsley Graham bought 91,309 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was purchased at an average price of $44.75 per share, for a total transaction of $4,086,077.75. Following the completion of the acquisition, the director now directly owns 1,091,309 shares in the company, valued at $48,836,077.75. The trade was a 9.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 206,787 shares of company stock worth $9,507,000 over the last three months. 7.07% of the stock is currently owned by corporate 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.

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