Russell Investments Group Ltd. Buys 156,223 Shares of Akero Therapeutics, Inc. $AKRO

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Akero Therapeutics by 7,613.2% in Q1, acquiring an additional 156,223 shares, bringing its total to 158,275 shares valued at approximately $6.4 million.
• Several other institutional investors also invested in Akero during the same quarter, with notable acquisitions including Nuveen LLC and others adding to their stakes.
• Insider transactions included the sale of 25,000 shares by Timothy Rolph and 37,837 shares by CEO Andrew Cheng, indicating a decrease in their ownership percentages.

Russell Investments Group Ltd. boosted its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 7,613.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,275 shares of the company's stock after buying an additional 156,223 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of Akero Therapeutics worth $6,407,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Informed Momentum Co LLC acquired a new stake in Akero Therapeutics in the first quarter valued at about $2,689,000. HighTower Advisors LLC acquired a new stake in Akero Therapeutics in the first quarter valued at about $292,000. Nuveen LLC acquired a new stake in Akero Therapeutics in the first quarter valued at about $12,481,000. Aigen Investment Management LP acquired a new stake in Akero Therapeutics in the first quarter valued at about $820,000. Finally, Invesco Ltd. boosted its stake in Akero Therapeutics by 18.9% in the first quarter. Invesco Ltd. now owns 117,121 shares of the company's stock valued at $4,741,000 after buying an additional 18,658 shares in the last quarter.

Insider Buying and Selling

In other news, insider Timothy Rolph sold 25,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $55.04, for a total transaction of $1,376,000.00. Following the completion of the transaction, the insider directly owned 169,721 shares in the company, valued at $9,341,443.84. This trade represents a 12.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cheng sold 37,837 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total value of $2,045,089.85. Following the transaction, the chief executive officer owned 556,487 shares of the company's stock, valued at $30,078,122.35. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,406 shares of company stock valued at $11,813,920 over the last three months. 7.07% of the stock is owned by insiders.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $47.95 on Thursday. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $3.84 billion, a PE ratio of -23.98 and a beta of -0.28. Akero Therapeutics, Inc. has a 12 month low of $21.34 and a 12 month high of $58.40. The stock has a 50-day moving average price of $51.59 and a two-hundred day moving average price of $47.19.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.11. During the same period in the prior year, the company earned ($0.81) earnings per share. Analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America raised their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Cowen assumed coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating on the stock. Citigroup reduced their price objective 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. TD Cowen started coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 target price for the company. Finally, Wall Street Zen upgraded Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $81.57.

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.

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