Rhumbline Advisers Buys 5,001 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Rhumbline Advisers lifted its position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,687 shares of the company's stock after acquiring an additional 5,001 shares during the period. Rhumbline Advisers owned about 0.14% of Akero Therapeutics worth $4,481,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AKRO. GF Fund Management CO. LTD. bought a new stake in Akero Therapeutics in the fourth quarter worth approximately $41,000. Sterling Capital Management LLC raised its stake in Akero Therapeutics by 764.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock valued at $50,000 after purchasing an additional 1,582 shares during the last quarter. Quarry LP acquired a new position in Akero Therapeutics during the 4th quarter valued at $83,000. Summit Investment Advisors Inc. raised its stake in 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 purchasing an additional 450 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Akero Therapeutics by 8.5% during 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 during the last quarter.

Akero Therapeutics Trading Up 3.8%

Akero Therapeutics stock traded up $2.06 during midday trading on Friday, hitting $55.62. 2,224,332 shares of the stock were exchanged, compared to its average volume of 1,007,626. The company has a fifty day simple moving average of $43.96 and a two-hundred day simple moving average of $40.30. Akero Therapeutics, Inc. has a 52 week low of $21.02 and a 52 week high of $58.40. The stock has a market capitalization of $4.43 billion, a PE ratio of -14.83 and a beta of -0.16. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

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

Insiders Place Their Bets

In related news, insider Catriona Yale sold 10,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.76, for a total transaction of $447,600.00. Following the transaction, the insider now directly owns 95,034 shares in the company, valued at approximately $4,253,721.84. The trade was a 9.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the business's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $35.23, for a total transaction of $1,056,900.00. Following the transaction, the chief executive officer now owns 624,324 shares in the company, valued at approximately $21,994,934.52. The trade was a 4.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,787 shares of company stock worth $9,954,600. Company insiders own 7.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. HC Wainwright raised their price objective on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. 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. Finally, Bank of America raised their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $82.50.

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.