T. Rowe Price Investment Management Inc. Sells 630,048 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

T. Rowe Price Investment Management Inc. reduced its position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 48.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 670,048 shares of the company's stock after selling 630,048 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.96% of Akero Therapeutics worth $18,641,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in Akero Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock worth $197,000 after acquiring an additional 450 shares during the period. Hsbc Holdings PLC raised its stake in Akero Therapeutics by 8.5% during the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after acquiring an additional 621 shares in the last quarter. Handelsbanken Fonder AB grew its position 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 buying an additional 1,000 shares in the last quarter. Swiss National Bank increased its position in shares of Akero Therapeutics by 1.2% during the 4th quarter. Swiss National Bank now owns 95,600 shares of the company's stock valued at $2,660,000 after purchasing an additional 1,100 shares during the period. Finally, Rhumbline Advisers lifted 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 purchasing an additional 1,310 shares during the last quarter.

Insider Transactions at Akero Therapeutics

In related news, insider Timothy Rolph sold 6,250 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $41.03, for a total value of $256,437.50. Following the sale, the insider now directly owns 169,721 shares of the company's stock, valued at $6,963,652.63. This trade represents a 3.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director G. Walmsley Graham acquired 200,000 shares of the company's stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $48.00 per share, with a total value of $9,600,000.00. Following the acquisition, the director now owns 1,000,000 shares in the company, valued at approximately $48,000,000. This trade represents a 25.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 341,309 shares of company stock valued at $15,863,578 and have sold 227,458 shares valued at $10,271,361. Insiders own 7.94% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AKRO shares. Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Canaccord Genuity Group boosted their target price on Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. HC Wainwright boosted their target price 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. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Finally, UBS Group raised their price objective on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $76.29.

Akero Therapeutics Stock Performance

NASDAQ:AKRO traded up $2.57 during trading on Wednesday, reaching $45.61. The company's stock had a trading volume of 1,480,598 shares, compared to its average volume of 874,059. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -12.16 and a beta of -0.18. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month 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. The firm has a 50 day moving average of $41.92 and a 200-day moving average of $36.76.

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 analysts' consensus estimates of ($0.98) by ($0.01). Research analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal 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.