KLP Kapitalforvaltning AS Takes $306,000 Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

KLP Kapitalforvaltning AS bought a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,000 shares of the company's stock, valued at approximately $306,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its holdings in shares of Akero Therapeutics by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company's stock worth $584,000 after purchasing an additional 1,000 shares during the period. Swiss National Bank grew its position in Akero Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 95,600 shares of the company's stock worth $2,660,000 after buying an additional 1,100 shares in the last quarter. Rhumbline Advisers increased its stake in Akero Therapeutics by 1.3% during the fourth quarter. Rhumbline Advisers now owns 105,686 shares of the company's stock valued at $2,940,000 after acquiring an additional 1,310 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Akero Therapeutics by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company's stock valued at $412,000 after acquiring an additional 1,446 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Akero Therapeutics by 13.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company's stock valued at $485,000 after acquiring an additional 2,049 shares in the last quarter.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $35.23, for a total value of $1,056,900.00. Following the completion of the transaction, the chief executive officer now owns 624,324 shares in the company, valued at approximately $21,994,934.52. The trade was a 4.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Rolph sold 31,250 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $55.77, for a total value of $1,742,812.50. Following the sale, the insider now owns 170,237 shares in the company, valued at $9,494,117.49. The trade was a 15.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 341,309 shares of company stock valued at $15,863,578 and have sold 278,385 shares valued at $13,345,929. 7.94% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO traded up $0.85 on Friday, hitting $35.67. The stock had a trading volume of 814,604 shares, compared to its average volume of 857,773. The firm's 50 day moving average price is $44.86 and its 200-day moving average price is $35.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. Akero Therapeutics, Inc. has a twelve month low of $17.86 and a twelve month high of $58.40. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -9.51 and a beta of -0.18.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings results 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). On average, equities research analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

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.