Propel Bio Management LLC boosted its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 343,729 shares of the company's stock after purchasing an additional 15,977 shares during the period. Akero Therapeutics comprises about 5.7% of Propel Bio Management LLC's investment portfolio, making the stock its 6th biggest position. Propel Bio Management LLC owned approximately 0.49% of Akero Therapeutics worth $9,862,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in Akero Therapeutics by 2,366.0% during the first quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company's stock valued at $31,000 after purchasing an additional 1,183 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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 acquiring an additional 446 shares in the last quarter. Eastern Bank purchased a new position in shares of Akero Therapeutics in the third quarter valued at about $100,000. Summit Financial Wealth Advisors LLC purchased a new position in shares of Akero Therapeutics in the third quarter valued at about $205,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Akero Therapeutics in the third quarter valued at about $211,000.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Citigroup assumed coverage on Akero Therapeutics in a report on Monday, November 18th. They issued a "buy" rating and a $65.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Akero Therapeutics in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Akero Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $46.83.
View Our Latest Analysis on Akero Therapeutics
Akero Therapeutics Trading Down 1.9 %
NASDAQ AKRO traded down $0.61 during trading hours on Tuesday, hitting $31.16. 397,688 shares of the company were exchanged, compared to its average volume of 862,447. The stock has a 50-day moving average price of $30.05 and a 200 day moving average price of $26.10. 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 52 week low of $15.32 and a 52 week high of $37.00. The stock has a market cap of $2.17 billion, a PE ratio of -8.31 and a beta of -0.26.
Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). Analysts forecast that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.
Insider Activity
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 owns 605,417 shares in the company, 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 filing with the SEC, which is accessible through this link. Also, insider Catriona Yale sold 15,485 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $32.62, for a total value of $505,120.70. Following the transaction, the insider now owns 74,158 shares in the company, valued at approximately $2,419,033.96. This represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,248 shares of company stock valued at $10,817,436. 7.94% of the stock is currently owned by insiders.
About Akero Therapeutics
(
Free Report)
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.
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