Foresite Capital Management VI LLC Buys Shares of 365,000 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Foresite Capital Management VI LLC acquired a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 365,000 shares of the company's stock, valued at approximately $10,154,000. Akero Therapeutics accounts for approximately 4.5% of Foresite Capital Management VI LLC's portfolio, making the stock its 8th largest holding. Foresite Capital Management VI LLC owned about 0.52% of Akero Therapeutics at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its position in shares of Akero Therapeutics by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after purchasing an additional 450 shares during the period. Hsbc Holdings PLC boosted its position in shares of Akero Therapeutics by 8.5% during the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock worth $220,000 after acquiring an additional 621 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Akero Therapeutics by 5.0% in the 4th quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company's stock valued at $584,000 after acquiring an additional 1,000 shares during the last quarter. Swiss National Bank lifted its stake in Akero Therapeutics by 1.2% in the 4th quarter. Swiss National Bank now owns 95,600 shares of the company's stock worth $2,660,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Akero Therapeutics by 1.3% during the 4th quarter. Rhumbline Advisers now owns 105,686 shares of the company's stock valued at $2,940,000 after purchasing an additional 1,310 shares during the last quarter.

Akero Therapeutics Price Performance

Shares of Akero Therapeutics stock traded down $0.30 on Thursday, reaching $45.31. The company's stock had a trading volume of 1,415,952 shares, compared to its average volume of 875,505. Akero Therapeutics, Inc. has a 52-week low of $17.86 and a 52-week high of $58.40. The company has a market capitalization of $3.61 billion, a P/E ratio of -12.08 and a beta of -0.18. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $41.80 and a 200-day moving average price of $36.82.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. HC Wainwright raised their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. UBS Group lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Citigroup increased their price target on Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Akero Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $76.29.

Insiders Place Their Bets

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $35.23, for a total transaction of $1,056,900.00. Following the completion of the transaction, the chief executive officer now owns 624,324 shares of the company's stock, valued at $21,994,934.52. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Timothy Rolph sold 18,750 shares of Akero Therapeutics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $56.51, for a total transaction of $1,059,562.50. Following the completion of the sale, the insider now owns 170,237 shares of the company's stock, valued at $9,620,092.87. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,458 shares of company stock valued at $10,271,361 over the last ninety days. Company insiders own 7.94% of the company's stock.

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.