100,500 Shares in Akero Therapeutics, Inc. (NASDAQ:AKRO) Acquired by Readystate Asset Management LP

Readystate Asset Management LP acquired a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 100,500 shares of the company's stock, valued at approximately $4,068,000. Readystate Asset Management LP owned about 0.13% of Akero Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GF Fund Management CO. LTD. boosted its position in shares of Akero Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company's stock worth $72,000 after purchasing an additional 321 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $114,000 after purchasing an additional 338 shares during the period. Amalgamated Bank boosted its position in shares of Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after purchasing an additional 410 shares during the period. Summit Investment Advisors Inc. boosted 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 worth $197,000 after purchasing an additional 450 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Akero Therapeutics by 8.5% during the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock worth $220,000 after purchasing an additional 621 shares during the period.

Insider Buying and Selling

In related news, CEO Andrew Cheng sold 37,837 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $54.05, for a total value of $2,045,089.85. Following the completion of the transaction, the chief executive officer owned 556,487 shares in the company, valued at $30,078,122.35. The trade was a 6.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $39.30, for a total transaction of $393,000.00. Following the completion of the transaction, the insider owned 95,034 shares of the company's stock, valued at $3,734,836.20. This represents a 9.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 235,906 shares of company stock worth $11,862,790 over the last 90 days. 7.07% of the stock is owned by insiders.

Akero Therapeutics Stock Up 0.1%

AKRO traded up $0.05 during trading hours on Friday, hitting $50.56. 561,893 shares of the company's stock were exchanged, compared to its average volume of 1,073,438. 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 of $51.79 and a 200 day moving average of $45.29. The firm has a market cap of $4.03 billion, a P/E ratio of -25.93 and a beta of -0.15. The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of ($1.01) by $1.91. Analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AKRO. Bank of America increased their price objective on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Citigroup lowered their price objective on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $82.50.

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.