Voya Investment Management LLC Has $3.34 Million Stock Position in Akero Therapeutics, Inc. $AKRO

Key Points

• Voya Investment Management LLC increased its stake in Akero Therapeutics by 302.9% in Q1, owning $3.34 million worth of stock after acquiring an additional 62,000 shares.
• Akero Therapeutics reported an improved earnings per share of ($0.86), exceeding analysts' expectations of ($0.97) for the latest quarter.
• Several analysts have issued buy ratings on Akero Therapeutics, with target prices ranging from $64.00 to $81.14, highlighting strong confidence from market experts.

Voya Investment Management LLC boosted its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 302.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 82,471 shares of the company's stock after buying an additional 62,000 shares during the period. Voya Investment Management LLC owned approximately 0.10% of Akero Therapeutics worth $3,338,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in shares of Akero Therapeutics during the 1st quarter worth approximately $10,404,000. Ameriprise Financial Inc. acquired a new position in shares of Akero Therapeutics during the 4th quarter worth approximately $422,000. Bank of New York Mellon Corp grew its position in shares of Akero Therapeutics by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 212,665 shares of the company's stock worth $8,609,000 after purchasing an additional 12,235 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Akero Therapeutics by 195.7% during the 4th quarter. Two Sigma Advisers LP now owns 41,100 shares of the company's stock worth $1,143,000 after purchasing an additional 27,200 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company's stock worth $104,000 after purchasing an additional 410 shares in the last quarter.

Akero Therapeutics Trading Down 2.1%

AKRO opened at $45.22 on Friday. Akero Therapeutics, Inc. has a twelve month low of $21.34 and a twelve month high of $58.40. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $48.07 and a 200-day moving average of $46.42. The stock has a market cap of $3.62 billion, a PE ratio of -22.61 and a beta of -0.24.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same quarter last year, the firm earned ($0.81) EPS. On average, sell-side analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Insider Transactions at Akero Therapeutics

In related news, CEO Andrew Cheng sold 30,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.59, for a total transaction of $1,457,700.00. Following the transaction, the chief executive officer directly owned 490,757 shares of the company's stock, valued at $23,845,882.63. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick Lamy sold 2,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $52.88, for a total transaction of $105,760.00. Following the transaction, the vice president directly owned 29,891 shares in the company, valued at $1,580,636.08. The trade was a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 168,753 shares of company stock valued at $8,088,599. Corporate insiders own 7.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Bank of America increased 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. TD Cowen assumed coverage on shares of Akero Therapeutics in a research report on Monday, August 4th. They set a "buy" rating and a $76.00 target price on the stock. Cowen began coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a "buy" rating on the stock. HC Wainwright started coverage on shares of Akero Therapeutics in a research report on Thursday, September 4th. They issued a "buy" rating and a $72.00 target price for the company. Finally, Wall Street Zen downgraded shares of Akero Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Akero Therapeutics presently has a consensus rating of "Buy" and an average price target of $81.14.

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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