Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Bought by abrdn plc

abrdn plc lifted its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 118.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 269,782 shares of the company's stock after purchasing an additional 146,424 shares during the period. abrdn plc owned about 0.39% of Akero Therapeutics worth $7,505,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock worth $71,000 after acquiring an additional 446 shares in the last quarter. Eastern Bank bought a new position in Akero Therapeutics during the 3rd quarter worth about $100,000. Summit Financial Wealth Advisors LLC bought a new position in Akero Therapeutics during the 3rd quarter worth about $205,000. Victory Capital Management Inc. bought a new position in Akero Therapeutics during the 3rd quarter worth about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Akero Therapeutics during the 3rd quarter worth about $265,000.

Insider Activity at Akero Therapeutics

In related news, CEO Andrew Cheng sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.09, for a total value of $802,250.00. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares of the company's stock, valued at $19,427,831.53. This trade represents a 3.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Catriona Yale sold 9,061 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $27.73, for a total transaction of $251,261.53. Following the completion of the transaction, the insider now directly owns 74,158 shares of the company's stock, valued at $2,056,401.34. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,053 shares of company stock valued at $9,385,974 in the last three months. 7.94% of the stock is owned by insiders.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock traded down $0.51 during midday trading on Wednesday, hitting $49.44. The company had a trading volume of 1,365,912 shares, compared to its average volume of 1,865,689. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -13.18 and a beta of -0.11. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $33.81 and a 200 day simple moving average of $30.39. Akero Therapeutics, Inc. has a 12-month low of $17.86 and a 12-month high of $58.40.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Morgan Stanley raised their price target on shares of Akero Therapeutics from $46.00 to $96.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. 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. Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and raised their price target for the company from $35.00 to $63.00 in a report on Thursday, January 30th. Finally, UBS Group raised their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $75.86.

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.