Vanguard Group Inc. Has $171.26 Million Stock Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Vanguard Group Inc. increased its stake in Akero Therapeutics by 14.2%, owning approximately 5.31% of the company, which is valued at $171.26 million.
• Insider trading activity includes COO Jonathan Young selling 12,500 shares, resulting in a 5.95% decrease in his position, while total insider sales in the last 90 days were valued at $11.81 million.
• A range of analysts have updated their ratings on Akero Therapeutics, with the consensus rating of "Buy" and an average price target of $81.57.

Vanguard Group Inc. raised its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,230,644 shares of the company's stock after purchasing an additional 526,233 shares during the period. Vanguard Group Inc. owned approximately 5.31% of Akero Therapeutics worth $171,256,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tema Etfs LLC acquired a new position in Akero Therapeutics during the fourth quarter valued at approximately $894,000. Principal Financial Group Inc. acquired a new position in Akero Therapeutics during the first quarter valued at approximately $10,404,000. Cubist Systematic Strategies LLC acquired a new position in Akero Therapeutics during the fourth quarter valued at approximately $840,000. RTW Investments LP raised its position in 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 purchasing an additional 940,388 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in Akero Therapeutics during the fourth quarter valued at approximately $422,000.

Insiders Place Their Bets

In other Akero Therapeutics news, COO Jonathan Young sold 12,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was 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 owned 197,484 shares in the company, valued at $9,437,760.36. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $105,760.00. Following the completion of the transaction, the vice president owned 29,891 shares of the company's stock, valued at approximately $1,580,636.08. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 226,406 shares of company stock worth $11,813,920 in the last ninety days. 7.07% of the stock is owned by corporate insiders.

Akero Therapeutics Stock Up 0.7%

AKRO stock opened at $47.95 on Thursday. The stock has a market cap of $3.84 billion, a P/E ratio of -23.98 and a beta of -0.28. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40. 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 stock's fifty day simple moving average is $51.59 and its two-hundred day simple moving average is $47.19.

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

Analyst Ratings Changes

A number of analysts have weighed in on AKRO shares. Wall Street Zen upgraded shares of Akero Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Citigroup cut 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. Bank of America raised their target price on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Cowen started coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating on the stock. Finally, TD Cowen started coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They issued a "buy" rating and a $76.00 target price on the stock. 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 an average price target of $81.57.

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.

Want to see what other hedge funds are holding AKRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.