Point72 Asset Management L.P. Sells 403,643 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Point72 Asset Management L.P. reduced its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 31.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 899,680 shares of the company's stock after selling 403,643 shares during the period. Point72 Asset Management L.P. owned 1.29% of Akero Therapeutics worth $25,029,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. ProShare Advisors LLC boosted its holdings in shares of Akero Therapeutics by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 22,398 shares of the company's stock worth $623,000 after buying an additional 5,477 shares during the period. MPM Bioimpact LLC grew its position in Akero Therapeutics by 17.3% in the 4th quarter. MPM Bioimpact LLC now owns 460,617 shares of the company's stock worth $12,814,000 after purchasing an additional 68,073 shares during the last quarter. Orbimed Advisors LLC acquired a new stake in Akero Therapeutics in the 4th quarter worth $1,836,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Akero Therapeutics by 1.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,442 shares of the company's stock worth $1,153,000 after purchasing an additional 637 shares during the last quarter. Finally, Deep Track Capital LP grew its position in Akero Therapeutics by 116.0% in the 4th quarter. Deep Track Capital LP now owns 1,490,000 shares of the company's stock worth $41,452,000 after purchasing an additional 800,216 shares during the last quarter.

Insider Transactions at Akero Therapeutics

In related news, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $41.48, for a total transaction of $1,244,400.00. Following the completion of the transaction, the chief executive officer now directly owns 594,324 shares of the company's stock, valued at $24,652,559.52. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Patrick Lamy sold 1,000 shares of Akero Therapeutics stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $48.09, for a total transaction of $48,090.00. Following the transaction, the vice president now directly owns 33,492 shares of the company's stock, valued at $1,610,630.28. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 219,208 shares of company stock valued at $9,218,994. Company insiders own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AKRO shares. Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Citigroup decreased their price target 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. Canaccord Genuity Group raised their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. HC Wainwright raised their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $82.33.

Akero Therapeutics Price Performance

NASDAQ:AKRO opened at $38.87 on Friday. The company has a 50-day moving average of $40.85 and a 200-day moving average of $37.78. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -10.37 and a beta of -0.12. Akero Therapeutics, Inc. has a 52 week low of $17.86 and a 52 week high of $58.40. 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 (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of ($1.01) by $1.91. As a group, equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

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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