Tema Etfs LLC Trims Stock Holdings in Akero Therapeutics, Inc. $AKRO

Key Points

• Tema Etfs LLC reduced its stake in Akero Therapeutics by 63.4% during the first quarter, now holding 11,778 shares worth approximately $477,000.
• Insider sales included COO Jonathan Young selling 12,500 shares for $597,375 and CEO Andrew Cheng selling 37,837 shares for over $2 million, indicating a decrease in their respective ownerships.
• Akero Therapeutics reported an earnings per share of ($0.86) for the last quarter, surpassing analyst expectations, while projections suggest a consensus EPS of ($3.99) for the current year.

Tema Etfs LLC cut its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 63.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,778 shares of the company's stock after selling 20,372 shares during the quarter. Tema Etfs LLC's holdings in Akero Therapeutics were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. RTW Investments LP grew its position in shares of Akero Therapeutics by 15.9% in the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock worth $190,840,000 after buying an additional 940,388 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Akero Therapeutics by 11.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,817,091 shares of the company's stock worth $194,997,000 after acquiring an additional 495,119 shares in the last quarter. Vanguard Group Inc. boosted its stake in Akero Therapeutics by 14.2% during the first quarter. Vanguard Group Inc. now owns 4,230,644 shares of the company's stock worth $171,256,000 after acquiring an additional 526,233 shares in the last quarter. Deep Track Capital LP grew its holdings in Akero Therapeutics by 116.0% in the fourth 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 during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Akero Therapeutics by 93.3% during 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 during the last quarter.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, insider Timothy Rolph sold 25,000 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $55.04, for a total value of $1,376,000.00. Following the transaction, the insider owned 169,721 shares of the company's stock, valued at approximately $9,341,443.84. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Young sold 12,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $47.79, for a total value of $597,375.00. Following the completion of the transaction, the chief operating officer directly owned 197,484 shares in the company, valued at approximately $9,437,760.36. This represents a 5.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,406 shares of company stock valued at $11,612,680 over the last ninety days. Company insiders own 7.07% of the company's stock.

Akero Therapeutics Stock Performance

NASDAQ AKRO traded down $0.21 during trading hours on Monday, hitting $46.73. The company's stock had a trading volume of 497,456 shares, compared to its average volume of 993,653. Akero Therapeutics, Inc. has a 12 month low of $21.34 and a 12 month high of $58.40. The company's 50 day simple moving average is $50.59 and its two-hundred day simple moving average is $46.85. The company has a market cap of $3.74 billion, a P/E ratio of -23.37 and a beta of -0.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.11. During the same quarter in the previous year, the firm earned ($0.81) EPS. As a group, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Analyst Ratings Changes

AKRO has been the topic of several recent research reports. TD Cowen assumed coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating and a $76.00 price target on the stock. Wall Street Zen raised Akero Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Cowen began coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a "buy" rating on the stock. Bank of America increased their target price on Akero Therapeutics from $63.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Citigroup cut their target price 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. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average 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.