Akero Therapeutics, Inc. (NASDAQ:AKRO) Stock Position Raised by Rhumbline Advisers

Rhumbline Advisers grew its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,687 shares of the company's stock after purchasing an additional 5,001 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Akero Therapeutics worth $4,481,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in shares of Akero Therapeutics during the 4th quarter valued at about $41,000. Sterling Capital Management LLC increased its position in Akero Therapeutics by 764.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after buying an additional 1,582 shares during the period. Quarry LP bought a new stake in Akero Therapeutics in the fourth quarter valued at $83,000. Summit Investment Advisors Inc. lifted its stake in Akero Therapeutics by 6.8% in the fourth 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 last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Akero Therapeutics by 8.5% during 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 period.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 37,837 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 556,487 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director G. Walmsley Graham acquired 91,309 shares of Akero Therapeutics stock in a transaction dated Tuesday, March 25th. The shares were acquired at an average price of $44.75 per share, with a total value of $4,086,077.75. Following the transaction, the director now owns 1,091,309 shares in the company, valued at approximately $48,836,077.75. This represents a 9.13% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 206,787 shares of company stock valued at $9,507,000. 7.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on AKRO. HC Wainwright increased their price objective on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Citigroup dropped their price target on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley reiterated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Finally, Bank of America increased their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $82.50.

Akero Therapeutics Price Performance

AKRO traded down $0.35 on Tuesday, reaching $55.40. The company had a trading volume of 947,599 shares, compared to its average volume of 1,012,006. The company has a market capitalization of $4.42 billion, a P/E ratio of -28.41 and a beta of -0.16. The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $44.75 and a 200-day moving average of $40.68. Akero Therapeutics, Inc. has a one year low of $21.02 and a one year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $1.91. As a group, equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

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.