JPMorgan Chase & Co. Sells 54,221 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

JPMorgan Chase & Co. trimmed its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488,046 shares of the company's stock after selling 54,221 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.70% of Akero Therapeutics worth $14,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKRO. Simplify Asset Management Inc. lifted its stake in Akero Therapeutics by 15.6% in the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company's stock valued at $8,141,000 after buying an additional 38,279 shares during the period. 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. FMR LLC boosted its stake in Akero Therapeutics by 732.1% during the third quarter. FMR LLC now owns 30,337 shares of the company's stock worth $870,000 after acquiring an additional 26,691 shares in the last quarter. Barclays PLC grew its holdings in Akero Therapeutics by 127.9% in the third quarter. Barclays PLC now owns 127,668 shares of the company's stock worth $3,662,000 after purchasing an additional 71,652 shares during the period. Finally, Propel Bio Management LLC increased its stake in Akero Therapeutics by 4.9% in the third quarter. Propel Bio Management LLC now owns 343,729 shares of the company's stock valued at $9,862,000 after purchasing an additional 15,977 shares in the last quarter.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CFO William Richard White sold 2,817 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $86,735.43. Following the transaction, the chief financial officer now owns 38,335 shares of the company's stock, valued at approximately $1,180,334.65. The trade was a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Cheng sold 24,992 shares of Akero Therapeutics stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.14, for a total value of $778,250.88. Following the sale, the chief executive officer now owns 605,417 shares in the company, valued at $18,852,685.38. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 396,802 shares of company stock worth $12,394,900. Corporate insiders own 7.94% of the company's stock.

Akero Therapeutics Stock Down 5.0 %

Shares of AKRO traded down $1.32 on Friday, reaching $24.84. The company's stock had a trading volume of 843,060 shares, compared to its average volume of 901,093. The stock has a market capitalization of $1.73 billion, a PE ratio of -6.62 and a beta of -0.19. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a twelve month low of $15.32 and a twelve month high of $37.00. The firm has a fifty day moving average of $30.06 and a 200-day moving average of $28.02.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted 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). Equities analysts predict that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $50.00 price objective on shares of Akero Therapeutics in a research report on Monday, November 18th. Citigroup initiated coverage on Akero Therapeutics in a research note on Monday, November 18th. They set a "buy" rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.83.

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.