Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. significantly increased its stake in Akero Therapeutics, acquiring an additional 27,881 shares, leading to a total of 35,116 shares valued at $1,421,000.
• In its most recent quarterly earnings, Akero reported earnings per share of $0.90, surpassing analysts' expectations by $1.91.
• Several hedge funds, including RTW Investments and Price T Rowe Associates, have also made notable increases in their holdings of Akero, reflecting a growing institutional interest in the stock.

Victory Capital Management Inc. increased its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 385.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,116 shares of the company's stock after buying an additional 27,881 shares during the period. Victory Capital Management Inc.'s holdings in Akero Therapeutics were worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AKRO. GF Fund Management CO. LTD. acquired a new position in Akero Therapeutics during the fourth quarter worth about $41,000. Sterling Capital Management LLC raised its position in Akero Therapeutics by 764.3% during the fourth 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 last quarter. Quarry LP acquired a new position in shares of Akero Therapeutics in the fourth quarter valued at approximately $83,000. Amalgamated Bank raised its position in shares of Akero Therapeutics by 19.0% in the first quarter. Amalgamated Bank now owns 2,570 shares of the company's stock valued at $104,000 after buying an additional 410 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Akero Therapeutics by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company's stock valued at $114,000 after buying an additional 338 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citigroup cut their price objective on shares of Akero Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Bank of America upped their price target 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $82.50.

Akero Therapeutics Stock Down 1.0%

Shares of AKRO stock traded down $0.48 on Friday, hitting $48.37. The stock had a trading volume of 867,371 shares, compared to its average volume of 872,309. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -24.81 and a beta of -0.28. The stock's 50 day moving average is $52.04 and its 200-day moving average is $45.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.80 and a current ratio of 16.80. 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. As a group, research analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Transactions at Akero Therapeutics

In related news, CTO Scott A. Gangloff sold 848 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $54.84, for a total value of $46,504.32. Following the sale, the chief technology officer directly owned 23,452 shares of the company's stock, valued at $1,286,107.68. This represents a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy Rolph sold 12,500 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $51.09, for a total transaction of $638,625.00. Following the completion of the sale, the insider directly owned 167,124 shares in the company, valued at $8,538,365.16. This represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 235,906 shares of company stock valued at $11,862,790 over the last ninety days. 7.07% of the stock is currently owned by corporate insiders.

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.