TD Asset Management Inc Has $8.45 Million Stake in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Key Points

• TD Asset Management Inc increased its stake in Akero Therapeutics by 23.1%, now holding approximately 208,848 shares valued at $8.45 million.
• Analysts have mixed views on AKRO, with Citigroup lowering their price target from $80.00 to $78.00, while Bank of America raised it from $63.00 to $64.00, indicating a potential for investment.
• Insider activity saw significant sales, with VP Patrick Lamy and CEO Andrew Cheng selling shares totaling approximately $1.64 million combined, contributing to a decrease in their positions by 6.27% and 5.45%, respectively.

TD Asset Management Inc raised its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 208,848 shares of the company's stock after buying an additional 39,194 shares during the period. TD Asset Management Inc owned approximately 0.26% of Akero Therapeutics worth $8,454,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. RTW Investments LP raised its holdings in shares of Akero Therapeutics by 15.9% during the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock valued at $190,840,000 after acquiring an additional 940,388 shares during the period. Deep Track Capital LP grew its position in Akero Therapeutics by 116.0% during the 4th quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock worth $41,452,000 after purchasing an additional 800,216 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Akero Therapeutics during the 4th quarter valued at $18,059,000. SG Americas Securities LLC lifted its holdings in shares of Akero Therapeutics by 93.3% in the first quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company's stock valued at $46,786,000 after purchasing an additional 557,794 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Akero Therapeutics by 13.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company's stock worth $120,238,000 after buying an additional 513,613 shares during the period.

Insider Activity at Akero Therapeutics

In related news, CTO Scott A. Gangloff sold 848 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $54.84, for a total transaction of $46,504.32. Following the transaction, the chief technology officer owned 23,452 shares of the company's stock, valued at approximately $1,286,107.68. This trade represents a 3.49% 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, VP Patrick Lamy sold 2,000 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total transaction of $105,760.00. Following the completion of the sale, the vice president owned 29,891 shares of the company's stock, valued at $1,580,636.08. This trade represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,906 shares of company stock worth $11,862,790. 7.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AKRO. Citigroup lowered their price target on Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Bank of America lifted their target price on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $82.50.

Akero Therapeutics Stock Down 1.0%

Shares of NASDAQ:AKRO traded down $0.48 during trading on Friday, reaching $48.37. 867,371 shares of the company traded hands, compared to its average volume of 872,309. The firm has a fifty day simple moving average of $52.00 and a 200 day simple moving average of $45.80. The company has a quick ratio of 16.80, a current ratio of 16.80 and a debt-to-equity ratio of 0.03. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40. The firm has a market cap of $3.86 billion, a P/E ratio of -24.81 and a beta of -0.28.

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