Nomura Holdings Inc. Invests $266,000 in Akero Therapeutics, Inc. $AKRO

Key Points

• Nomura Holdings Inc. has made a new investment in Akero Therapeutics, acquiring 6,562 shares worth approximately $266,000 during the first quarter.
• Insider transactions included COO Jonathan Young selling 12,500 shares for about $597,375, reducing his shareholding by 5.95%.
• Analysts have set a consensus "Buy" rating for Akero Therapeutics with an average target price of $81.14, reflecting positive outlook amidst recent earnings results.

Nomura Holdings Inc. acquired a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,562 shares of the company's stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKRO. Northwest & Ethical Investments L.P. acquired a new stake in Akero Therapeutics during the 1st quarter valued at approximately $32,000. GF Fund Management CO. LTD. acquired a new position in shares of Akero Therapeutics in the 4th quarter worth approximately $41,000. PNC Financial Services Group Inc. boosted 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 during the last quarter. Amalgamated Bank increased 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 buying an additional 410 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Akero Therapeutics by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock worth $114,000 after buying an additional 338 shares during the period.

Insider Transactions at Akero Therapeutics

In related news, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $51.16, for a total value of $1,534,800.00. Following the completion of the sale, the chief executive officer owned 520,757 shares of the company's stock, valued at approximately $26,641,928.12. This trade represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jonathan Young sold 12,500 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $47.79, for a total transaction of $597,375.00. Following the transaction, the chief operating officer owned 197,484 shares in the company, valued at approximately $9,437,760.36. The trade was a 5.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,692 shares of company stock valued at $8,036,786 in the last 90 days. 7.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AKRO shares. Cowen started coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating for the company. Bank of America raised their target price on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Wall Street Zen raised Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. HC Wainwright initiated coverage on Akero Therapeutics in a report on Thursday, September 4th. They set a "buy" rating and a $72.00 price target on the stock. Finally, TD Cowen initiated coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating and a $76.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $81.14.

Akero Therapeutics Stock Up 3.9%

Akero Therapeutics stock traded up $1.68 during midday trading on Thursday, reaching $44.93. The stock had a trading volume of 1,072,618 shares, compared to its average volume of 890,311. The company has a fifty day moving average price of $48.99 and a two-hundred day moving average price of $46.56. Akero Therapeutics, Inc. has a 12 month low of $21.34 and a 12 month high of $58.40. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $3.59 billion, a P/E ratio of -22.47 and a beta of -0.24.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same period in the prior year, the business posted ($0.81) earnings per share. As a group, equities analysts expect 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.