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

Rafferty Asset Management LLC lessened its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,604 shares of the company's stock after selling 17,797 shares during the period. Rafferty Asset Management LLC owned 0.10% of Akero Therapeutics worth $2,020,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AKRO. Sterling Capital Management LLC raised its stake in Akero Therapeutics by 764.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after purchasing an additional 1,582 shares during the period. Quarry LP acquired a new stake in shares of Akero Therapeutics during the 4th quarter worth approximately $83,000. Summit Investment Advisors Inc. raised its position in shares of Akero Therapeutics by 6.8% during 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 during the period. Hsbc Holdings PLC lifted its holdings in Akero Therapeutics by 8.5% in the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after acquiring an additional 621 shares during the last quarter. Finally, AlphaQuest LLC grew its position in Akero Therapeutics by 32,588.0% in the fourth quarter. AlphaQuest LLC now owns 8,172 shares of the company's stock worth $227,000 after acquiring an additional 8,147 shares during the period.

Akero Therapeutics Stock Down 5.3%

AKRO traded down $2.61 on Monday, hitting $46.36. 1,769,854 shares of the company were exchanged, compared to its average volume of 953,550. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -12.36 and a beta of -0.12. The firm has a 50-day moving average price of $40.97 and a two-hundred day moving average price of $38.31. Akero Therapeutics, Inc. has a twelve month low of $17.86 and a twelve month high of $58.40.

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

Wall Street Analyst Weigh In

A number of research firms have commented on AKRO. UBS Group lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Canaccord Genuity Group upped their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Morgan Stanley reiterated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Citigroup decreased their price objective 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, Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $35.00 to $63.00 in a report on Thursday, January 30th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Akero Therapeutics currently has an average rating of "Buy" and an average price target of $82.33.

Insider Activity

In related news, COO Jonathan Young sold 607 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total value of $27,242.16. Following the transaction, the chief operating officer now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director G. Walmsley Graham purchased 91,309 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of $44.75 per share, with a total value of $4,086,077.75. Following the completion of the acquisition, the director now directly owns 1,091,309 shares in the company, valued at $48,836,077.75. The trade was a 9.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 223,208 shares of company stock worth $9,313,294. 7.94% of the stock is currently owned by corporate insiders.

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.