PDT Partners LLC Sells 122,183 Shares of Akero Therapeutics, Inc. $AKRO

Key Points

• PDT Partners LLC significantly reduced its stake in Akero Therapeutics by 89.2%, holding only 14,847 shares after selling over 122,000 shares.
• Insider transactions included CEO Timothy Rolph selling 12,500 shares at an average price of $51.09, while COO Jonathan Young sold the same amount for $47.79, indicating a decline in insider ownership.
• Akero Therapeutics' stock has seen recent ups and downs, with eight equity analysts giving it a consensus rating of "Buy" and an average price target of $81.14.

PDT Partners LLC trimmed its position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 89.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,847 shares of the company's stock after selling 122,183 shares during the period. PDT Partners LLC's holdings in Akero Therapeutics were worth $601,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AKRO. Northwest & Ethical Investments L.P. acquired a new position in Akero Therapeutics during the 1st quarter valued at about $32,000. GF Fund Management CO. LTD. acquired a new position in Akero Therapeutics during the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. boosted its stake in Akero Therapeutics by 30.8% during 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 boosted its stake in Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock valued at $104,000 after purchasing an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after purchasing an additional 338 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Catriona Yale sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $54.23, for a total value of $542,300.00. Following the transaction, the insider owned 92,231 shares in the company, valued at approximately $5,001,687.13. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Cheng sold 30,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 520,757 shares in the company, valued at approximately $26,641,928.12. The trade was a 5.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,192 shares of company stock valued at $7,484,661 in the last quarter. 7.07% of the stock is currently owned by company insiders.

Akero Therapeutics Stock Performance

Shares of NASDAQ AKRO traded down $1.18 during midday trading on Wednesday, reaching $43.44. The company's stock had a trading volume of 104,085 shares, compared to its average volume of 1,364,208. Akero Therapeutics, Inc. has a 12-month low of $21.34 and a 12-month high of $58.40. The firm has a 50 day moving average price of $49.30 and a 200-day moving average price of $46.61. The stock has a market capitalization of $3.48 billion, a P/E ratio of -21.79 and a beta of -0.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.11. During the same period in the previous year, the company posted ($0.81) earnings per share. As a group, equities analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on AKRO shares. TD Cowen started coverage on Akero Therapeutics in a research note on Monday, August 4th. They set a "buy" rating and a $76.00 price target for the company. HC Wainwright started coverage on Akero Therapeutics in a research note on Thursday, September 4th. They set a "buy" rating and a $72.00 price target for the company. Wall Street Zen upgraded Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Bank of America boosted 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. Finally, Cowen initiated coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating on the stock. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Akero Therapeutics presently has a consensus 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.