Renaissance Technologies LLC Makes New Investment in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Renaissance Technologies LLC acquired a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,800 shares of the company's stock, valued at approximately $579,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AKRO. Barclays PLC lifted its position in shares of Akero Therapeutics by 127.9% during the 3rd quarter. Barclays PLC now owns 127,668 shares of the company's stock worth $3,662,000 after buying an additional 71,652 shares during the period. SG Americas Securities LLC boosted its stake in shares of Akero Therapeutics by 4,022.1% in the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock valued at $16,636,000 after purchasing an additional 583,486 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 worth $412,000 after purchasing an additional 1,446 shares during the last quarter. abrdn plc increased its position in shares of Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company's stock worth $7,505,000 after purchasing an additional 146,424 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AKRO shares. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. Morgan Stanley reissued an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Citigroup raised their price target on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Canaccord Genuity Group increased their price objective on Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, UBS Group upped their price target on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $76.29.

Akero Therapeutics Stock Down 4.2 %

AKRO traded down $1.78 during trading hours on Friday, hitting $40.61. 491,015 shares of the company's stock were exchanged, compared to its average volume of 885,087. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -10.83 and a beta of -0.12. The stock's 50-day moving average is $41.31 and its two-hundred day moving average is $37.36. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a 1-year low of $17.86 and a 1-year high of $58.40.

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

Insider Activity at Akero Therapeutics

In other news, CEO Andrew Cheng sold 30,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $52.73, for a total value of $1,581,900.00. Following the sale, the chief executive officer now directly owns 686,062 shares of the company's stock, valued at approximately $36,176,049.26. This represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Young sold 607 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total value of $27,242.16. Following the completion of the sale, the chief operating officer now owns 200,540 shares in the company, valued at $9,000,235.20. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,208 shares of company stock valued at $9,216,574. 7.94% of the stock is 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.