Propel Bio Management LLC Sells 114,845 Shares of Akero Therapeutics, Inc. $AKRO

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

Other institutional investors also recently added to or reduced their stakes in the company. Tema Etfs LLC purchased a new position in Akero Therapeutics during the fourth quarter valued at approximately $894,000. Principal Financial Group Inc. purchased a new stake in shares of Akero Therapeutics in the 1st quarter valued at $10,404,000. Cubist Systematic Strategies LLC purchased a new stake in Akero Therapeutics during the 4th quarter worth about $840,000. RTW Investments LP boosted its position 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 acquiring an additional 940,388 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Akero Therapeutics in the 4th quarter valued at about $422,000.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO traded up $1.04 during midday trading on Friday, hitting $45.07. The company's stock had a trading volume of 298,131 shares, compared to its average volume of 1,365,080. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66. The stock's 50 day simple moving average is $49.84 and its 200 day simple moving average is $46.76. Akero Therapeutics, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -22.54 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) EPS for the quarter, topping analysts' consensus estimates of ($0.97) by $0.11. During the same quarter in the prior year, the firm posted ($0.81) EPS. As a group, research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Activity

In other news, insider Timothy Rolph sold 12,500 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $51.09, for a total value of $638,625.00. Following the sale, the insider directly owned 167,124 shares of the company's stock, valued at approximately $8,538,365.16. This represents a 6.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 37,837 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $54.05, for a total transaction of $2,045,089.85. Following the completion of the transaction, the chief executive officer directly owned 556,487 shares in the company, valued at approximately $30,078,122.35. This represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,406 shares of company stock worth $10,144,055 over the last quarter. Corporate insiders own 7.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AKRO shares. Cowen assumed coverage on Akero Therapeutics in a research note on Monday, August 4th. They set a "buy" rating for the company. Citigroup reduced their price objective on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Bank of America lifted their target price on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Wall Street Zen raised Akero Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, HC Wainwright started coverage on Akero Therapeutics in a research note on Thursday. They issued a "buy" rating and a $72.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Akero Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $81.14.

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.