Northern Trust Corp Buys 36,412 Shares of Akero Therapeutics, Inc. $AKRO

Key Points

• Northern Trust Corp has increased its holdings in Akero Therapeutics by 5.9%, owning approximately 656,733 shares valued at $26.59 million as of the latest SEC filing.
• A variety of hedge funds, including RTW Investments LP and Deep Track Capital LP, have significantly increased their stakes in Akero Therapeutics, reflecting growing institutional interest in the company.
• Akero Therapeutics' stock currently has a consensus rating of "Buy" from eight research analysts, with an average target price of $81.57, signaling optimistic future performance.

Northern Trust Corp grew its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 656,733 shares of the company's stock after buying an additional 36,412 shares during the quarter. Northern Trust Corp owned approximately 0.82% of Akero Therapeutics worth $26,585,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AKRO. Northwest & Ethical Investments L.P. acquired a new position in Akero Therapeutics in the 1st quarter worth about $32,000. GF Fund Management CO. LTD. purchased a new stake in shares of Akero Therapeutics during the 4th quarter worth approximately $41,000. PNC Financial Services Group Inc. increased its holdings in shares of Akero Therapeutics by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company's stock worth $67,000 after buying an additional 390 shares during the last quarter. Amalgamated Bank boosted its position in Akero Therapeutics by 19.0% in the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock valued at $104,000 after buying an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 worth $114,000 after acquiring an additional 338 shares during the last quarter.

Insider Activity at Akero Therapeutics

In other news, CEO Andrew Cheng sold 37,837 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total value of $2,045,089.85. Following the completion of the sale, the chief executive officer owned 556,487 shares of the company's stock, valued at approximately $30,078,122.35. This represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction on Monday, June 16th. The shares were sold at an average price of $54.23, for a total transaction of $542,300.00. Following the completion of the sale, the insider directly owned 92,231 shares of the company's stock, valued at approximately $5,001,687.13. The trade was a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,406 shares of company stock worth $10,144,055 over the last ninety days. 7.07% of the stock is owned by corporate insiders.

Akero Therapeutics Price Performance

NASDAQ:AKRO traded up $1.25 during trading hours on Friday, hitting $45.28. The company's stock had a trading volume of 154,997 shares, compared to its average volume of 1,364,131. Akero Therapeutics, Inc. has a 52-week low of $21.34 and a 52-week high of $58.40. The company has a market capitalization of $3.62 billion, a PE ratio of -22.50 and a beta of -0.24. The business's 50-day moving average is $49.84 and its two-hundred day moving average is $46.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same period in the prior year, the company earned ($0.81) EPS. As a group, research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Analysts Set New Price Targets

AKRO has been the topic of several research analyst reports. Bank of America raised 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. Cowen initiated coverage on shares of Akero Therapeutics in a research note on Monday, August 4th. They set a "buy" rating for the company. TD Cowen began coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating and a $76.00 price target on the stock. Citigroup cut their price target on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, HC Wainwright started coverage on shares of Akero Therapeutics in a report on Thursday. They issued a "buy" rating and a $72.00 target price for the company. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $81.14.

About Akero Therapeutics

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.