Teachers Retirement System of The State of Kentucky Sells 9,256 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Teachers Retirement System of The State of Kentucky reduced its position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 32.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,265 shares of the company's stock after selling 9,256 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Akero Therapeutics were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AKRO. GF Fund Management CO. LTD. purchased a new stake in Akero Therapeutics in the 4th quarter worth about $41,000. Sterling Capital Management LLC raised its position in Akero Therapeutics by 764.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after purchasing an additional 1,582 shares during the period. Quarry LP purchased a new stake in Akero Therapeutics in the 4th quarter worth about $83,000. Amalgamated Bank raised its position in 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 purchasing an additional 410 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 338 shares during the period.

Insider Buying and Selling

In other news, VP Patrick Lamy sold 2,000 shares of Akero Therapeutics stock in a transaction 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 directly owned 29,891 shares in the company, valued at approximately $1,580,636.08. The trade was a 6.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Scott A. Gangloff sold 848 shares of Akero Therapeutics stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $54.84, for a total transaction of $46,504.32. Following the sale, the chief technology officer owned 23,452 shares of the company's stock, valued at $1,286,107.68. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,906 shares of company stock valued at $11,862,790 over the last quarter. Insiders own 7.07% of the company's stock.

Akero Therapeutics Stock Performance

Shares of AKRO stock opened at $50.56 on Friday. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -25.93 and a beta of -0.15. The company's 50 day moving average is $51.79 and its 200 day moving average is $45.16. 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 52-week low of $21.34 and a 52-week high of $58.40.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AKRO. Bank of America raised their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Citigroup reduced their target price on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target 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.

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