Millennium Management LLC Lowers Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Millennium Management LLC lessened its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 77.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,736 shares of the company's stock after selling 57,892 shares during the period. Millennium Management LLC's holdings in Akero Therapeutics were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Akero Therapeutics by 13.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company's stock worth $120,238,000 after purchasing an additional 513,613 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 worth $103,057,000 after acquiring an additional 27,830 shares in the last quarter. Deep Track Capital LP lifted its holdings in shares of Akero Therapeutics by 116.0% during the 4th 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 last quarter. Rock Springs Capital Management LP lifted its stake in shares of Akero Therapeutics by 1.4% in the 4th quarter. Rock Springs Capital Management LP now owns 946,499 shares of the company's stock valued at $26,332,000 after purchasing an additional 13,100 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Akero Therapeutics in the fourth quarter worth about $18,059,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. HC Wainwright raised their price objective on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Citigroup cut their price target on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Bank of America upped their price target on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $82.50.

Akero Therapeutics Price Performance

Akero Therapeutics stock traded up $2.06 during mid-day trading on Friday, reaching $55.62. 2,151,267 shares of the company were exchanged, compared to its average volume of 1,005,936. The firm has a market cap of $4.43 billion, a PE ratio of -14.83 and a beta of -0.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The company has a fifty day simple moving average of $43.53 and a 200-day simple moving average of $40.13. Akero Therapeutics, Inc. has a 12 month low of $21.02 and a 12 month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $1.91. As a group, equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CFO William Richard White sold 2,804 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $53.99, for a total value of $151,387.96. Following the completion of the sale, the chief financial officer now directly owns 59,155 shares in the company, valued at approximately $3,193,778.45. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Young sold 2,493 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $53.99, for a total value of $134,597.07. Following the completion of the sale, the chief operating officer now owns 198,047 shares of the company's stock, valued at approximately $10,692,557.53. This represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,787 shares of company stock worth $9,954,600. Insiders own 7.07% of the company's stock.

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.