Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,604 shares of the company's stock after selling 17,797 shares during the period. Rafferty Asset Management LLC owned approximately 0.10% of Akero Therapeutics worth $2,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AKRO. Summit Investment Advisors Inc. grew its holdings in Akero Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after buying an additional 450 shares in the last quarter. Hsbc Holdings PLC raised its position in Akero Therapeutics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after purchasing an additional 621 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Akero Therapeutics by 1.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,442 shares of the company's stock valued at $1,153,000 after purchasing an additional 637 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Akero Therapeutics by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company's stock worth $584,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Akero Therapeutics by 1.2% during the 4th quarter. Swiss National Bank now owns 95,600 shares of the company's stock worth $2,660,000 after acquiring an additional 1,100 shares in the last quarter.

Insiders Place Their Bets

In related news, VP Patrick Lamy sold 1,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $48.09, for a total value of $48,090.00. Following the sale, the vice president now owns 33,492 shares in the company, valued at $1,610,630.28. This represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jonathan Young sold 607 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total transaction of $27,242.16. Following the transaction, the chief operating officer now directly owns 200,540 shares of the company's stock, valued at $9,000,235.20. This represents a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 223,208 shares of company stock worth $9,313,294 over the last three months. Insiders own 7.94% of the company's stock.

Akero Therapeutics Stock Performance

Shares of NASDAQ AKRO traded down $2.61 during trading hours on Friday, hitting $46.36. 1,769,854 shares of the company's stock were exchanged, compared to its average volume of 953,709. Akero Therapeutics, Inc. has a 1-year low of $17.86 and a 1-year high of $58.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -12.36 and a beta of -0.12. The company's 50-day moving average price is $40.97 and its 200-day moving average price is $38.27.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of ($1.01) by $1.91. On average, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AKRO has been the topic of several research analyst reports. UBS Group lifted their price target on Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Citigroup decreased their price target 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. Canaccord Genuity Group boosted their target price on Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, HC Wainwright boosted their price target on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $82.33.

Akero Therapeutics 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.