Erste Asset Management GmbH Purchases New Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Erste Asset Management GmbH bought a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 47,000 shares of the company's stock, valued at approximately $1,327,000. Erste Asset Management GmbH owned 0.07% of Akero Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Perceptive Advisors LLC lifted its position in shares of Akero Therapeutics by 8.1% during the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company's stock valued at $35,188,000 after acquiring an additional 112,426 shares during the period. Long Focus Capital Management LLC raised its holdings in Akero Therapeutics by 119.0% during the second quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company's stock worth $16,882,000 after buying an additional 391,000 shares during the last quarter. Emerald Advisers LLC raised its holdings in Akero Therapeutics by 1.8% during the third quarter. Emerald Advisers LLC now owns 524,427 shares of the company's stock worth $15,046,000 after buying an additional 9,175 shares during the last quarter. Propel Bio Management LLC raised its holdings in Akero Therapeutics by 4.9% during the third quarter. Propel Bio Management LLC now owns 343,729 shares of the company's stock worth $9,862,000 after buying an additional 15,977 shares during the last quarter. Finally, Simplify Asset Management Inc. raised its holdings in Akero Therapeutics by 15.6% during the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company's stock worth $8,141,000 after buying an additional 38,279 shares during the last quarter.

Akero Therapeutics Stock Up 0.6 %

Shares of AKRO stock traded up $0.17 during midday trading on Wednesday, reaching $30.92. 1,403,930 shares of the stock were exchanged, compared to its average volume of 856,359. The firm has a market cap of $2.16 billion, a PE ratio of -8.25 and a beta of -0.23. Akero Therapeutics, Inc. has a 1 year low of $15.32 and a 1 year high of $37.00. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The company's 50 day moving average is $30.59 and its two-hundred day moving average is $26.61.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). On average, equities research analysts predict that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Insiders Place Their Bets

In other Akero Therapeutics news, CEO Andrew Cheng sold 1,738 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total transaction of $45,500.84. Following the completion of the transaction, the chief executive officer now owns 605,417 shares of the company's stock, valued at $15,849,817.06. This represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Catriona Yale sold 9,061 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.73, for a total transaction of $251,261.53. Following the transaction, the insider now directly owns 74,158 shares of the company's stock, valued at $2,056,401.34. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,248 shares of company stock worth $10,817,436. Corporate insiders own 7.94% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AKRO. Citigroup began coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They issued a "buy" rating and a $65.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Akero Therapeutics has an average rating of "Moderate Buy" and an average price target of $46.83.

About Akero Therapeutics

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.