Akero Therapeutics, Inc. (NASDAQ:AKRO) Receives Average Rating of "Moderate Buy" from Brokerages

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $46.83.

Several analysts have issued reports on AKRO shares. HC Wainwright restated a "buy" rating and set a $50.00 price objective on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup initiated coverage on shares of Akero Therapeutics in a report on Monday, November 18th. They issued a "buy" rating and a $65.00 price objective for the company.

Akero Therapeutics Stock Performance

Shares of AKRO stock traded down $0.07 during mid-day trading on Friday, reaching $32.10. 228,782 shares of the company were exchanged, compared to its average volume of 681,953. 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 business's 50 day simple moving average is $30.41 and its 200 day simple moving average is $26.39. Akero Therapeutics has a fifty-two week low of $15.32 and a fifty-two week high of $37.00.

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

Insider Buying and Selling

In other news, CEO Andrew Cheng sold 108,366 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the transaction, the chief executive officer now directly owns 605,417 shares of the company's stock, valued at approximately $19,209,881.41. This trade represents a 15.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Young sold 50,716 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $31.57, for a total transaction of $1,601,104.12. Following the completion of the sale, the chief operating officer now directly owns 216,286 shares of the company's stock, valued at $6,828,149.02. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 348,248 shares of company stock valued at $10,817,436 in the last quarter. Company insiders own 7.94% of the company's stock.

Hedge Funds Weigh In On Akero Therapeutics

Several hedge funds have recently modified their holdings of AKRO. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock valued at $71,000 after buying an additional 446 shares during the period. Russell Investments Group Ltd. raised its position in Akero Therapeutics by 2,366.0% in the first quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company's stock worth $31,000 after acquiring an additional 1,183 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Akero Therapeutics by 13.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company's stock worth $485,000 after acquiring an additional 2,049 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Akero Therapeutics by 12.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company's stock valued at $574,000 after acquiring an additional 2,200 shares during the last quarter. Finally, LMR Partners LLP boosted its position in shares of Akero Therapeutics by 17.0% during the 3rd quarter. LMR Partners LLP now owns 20,597 shares of the company's stock valued at $591,000 after purchasing an additional 2,997 shares in the last quarter.

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.