TD Asset Management Inc Grows 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 increased its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 23.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,848 shares of the company's stock after acquiring an additional 39,194 shares during the period. TD Asset Management Inc owned about 0.26% of Akero Therapeutics worth $8,454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in shares of Akero Therapeutics during the 4th quarter worth approximately $41,000. Sterling Capital Management LLC grew its holdings in shares of Akero Therapeutics by 764.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after acquiring an additional 1,582 shares during the period. Amalgamated Bank grew its stake in shares of Akero Therapeutics by 19.0% in the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after buying an additional 410 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Akero Therapeutics by 14.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock worth $114,000 after buying an additional 338 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Akero Therapeutics in the 1st quarter worth approximately $120,000.

Wall Street Analysts Forecast Growth

AKRO has been the topic of several recent research reports. TD Cowen started coverage on Akero Therapeutics in a research note on Monday. They issued a "buy" rating and a $76.00 price target on the stock. Bank of America increased their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, 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. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Akero Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $81.57.

Insiders Place Their Bets

In other news, VP Patrick Lamy sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $52.88, for a total transaction of $105,760.00. Following the completion of the transaction, the vice president owned 29,891 shares in the company, valued at $1,580,636.08. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Catriona Yale sold 10,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $52.95, for a total value of $529,500.00. Following the transaction, the insider owned 91,488 shares of the company's stock, valued at approximately $4,844,289.60. The trade was a 9.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,906 shares of company stock worth $11,862,790 in the last three months. 7.07% of the stock is owned by company insiders.

Akero Therapeutics Stock Performance

Akero Therapeutics stock traded up $0.59 during trading on Monday, reaching $48.96. The company had a trading volume of 266,571 shares, compared to its average volume of 1,422,764. Akero Therapeutics, Inc. has a 52 week low of $21.34 and a 52 week high of $58.40. 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 firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -25.17 and a beta of -0.28. The firm's 50-day simple moving average is $52.04 and its 200 day simple moving average is $46.31.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.01) by $1.91. Sell-side analysts forecast 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.