Akero Therapeutics, Inc. $AKRO Shares Sold by Propel Bio Management LLC

Key Points

• Propel Bio Management LLC has reduced its stake in Akero Therapeutics by 33.4%, now owning 228,884 shares after selling 114,845 shares during the first quarter.
• A host of institutional investors, including Dimensional Fund Advisors LP and Renaissance Technologies LLC, have significantly increased their holdings in Akero Therapeutics during the fourth quarter.
• Analysts have issued a consensus "Buy" rating for Akero Therapeutics, with a target price averaging $81.57, indicating strong market confidence in the company’s growth potential.

Propel Bio Management LLC decreased its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 33.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,884 shares of the company's stock after selling 114,845 shares during the quarter. Akero Therapeutics makes up about 10.8% of Propel Bio Management LLC's investment portfolio, making the stock its 3rd biggest holding. Propel Bio Management LLC owned 0.29% of Akero Therapeutics worth $9,265,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AKRO. Tema Etfs LLC acquired a new position in shares of Akero Therapeutics during the 4th quarter worth approximately $894,000. Principal Financial Group Inc. acquired a new position in shares of Akero Therapeutics in the first quarter valued at $10,404,000. Cubist Systematic Strategies LLC bought a new position in shares of Akero Therapeutics in the fourth quarter valued at about $840,000. RTW Investments LP lifted its stake in shares of Akero Therapeutics by 15.9% during the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock worth $190,840,000 after buying an additional 940,388 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Akero Therapeutics during the 4th quarter worth about $422,000.

Insider Buying and Selling

In other news, insider Timothy Rolph sold 12,500 shares of Akero Therapeutics stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $49.30, for a total value of $616,250.00. Following the completion of the transaction, the insider owned 167,124 shares of the company's stock, valued at $8,239,213.20. The trade was a 6.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick Lamy sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total value of $105,760.00. Following the completion of the sale, the vice president owned 29,891 shares in the company, valued at approximately $1,580,636.08. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 222,406 shares of company stock valued at $11,612,680 over the last three months. Insiders own 7.07% of the company's stock.

Akero Therapeutics Stock Up 0.4%

NASDAQ:AKRO traded up $0.18 during midday trading on Wednesday, hitting $45.62. The company had a trading volume of 905,913 shares, compared to its average volume of 934,066. The stock's fifty day moving average price is $50.28 and its 200-day moving average price is $46.82. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. Akero Therapeutics, Inc. has a 52-week low of $21.34 and a 52-week high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, topping 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. On average, equities analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AKRO shares. TD Cowen started coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 price target for the company. 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 report 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. Cowen began coverage on Akero Therapeutics in a report on Monday, August 4th. They set a "buy" rating on the stock. Finally, Citigroup reduced their price objective 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. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Akero Therapeutics has a consensus rating of "Buy" and a consensus target price of $81.57.

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.