Akero Therapeutics, Inc. (NASDAQ:AKRO) Short Interest Update

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,630,000 shares, an increase of 8.4% from the January 15th total of 3,350,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 3.2 days.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO traded up $0.65 during trading on Wednesday, reaching $50.09. 343,277 shares of the company traded hands, compared to its average volume of 1,725,882. The firm has a market capitalization of $3.50 billion, a PE ratio of -13.32 and a beta of -0.11. Akero Therapeutics has a 52 week low of $17.86 and a 52 week high of $58.40. 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's 50 day moving average is $35.72 and its two-hundred day moving average is $31.22.

Wall Street Analyst Weigh In

Several analysts recently commented on AKRO shares. UBS Group lifted their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a report on Friday, January 31st. HC Wainwright boosted their price objective on Akero Therapeutics from $50.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Citigroup increased their target price on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley increased their price objective on Akero Therapeutics from $46.00 to $96.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $75.86.

Insider Activity

In other Akero Therapeutics news, CEO Andrew Cheng sold 25,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $32.09, for a total value of $802,250.00. Following the sale, the chief executive officer now owns 605,417 shares in the company, valued at $19,427,831.53. This represents a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William Richard White sold 2,817 shares of Akero Therapeutics stock in a transaction that occurred 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 $1,180,334.65. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,992 shares of company stock valued at $9,134,713. 7.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several hedge funds have recently bought and sold shares of AKRO. Wellington Management Group LLP lifted its holdings in shares of Akero Therapeutics by 54.4% during the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company's stock worth $226,554,000 after acquiring an additional 2,782,029 shares during the period. Janus Henderson Group PLC lifted its stake in Akero Therapeutics by 2.9% during the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company's stock worth $203,053,000 after purchasing an additional 201,225 shares during the last quarter. RTW Investments LP boosted its holdings in shares of Akero Therapeutics by 15.9% in the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company's stock valued at $190,840,000 after purchasing an additional 940,388 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Akero Therapeutics by 13.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company's stock valued at $120,238,000 after purchasing an additional 513,613 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Akero Therapeutics by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company's stock valued at $103,057,000 after purchasing an additional 27,830 shares during the last quarter.

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.