Charles Schwab Investment Management Inc. Acquires 8,096 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Charles Schwab Investment Management Inc. lifted its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 540,692 shares of the company's stock after acquiring an additional 8,096 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.77% of Akero Therapeutics worth $15,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AKRO. Victory Capital Management Inc. acquired a new stake in shares of Akero Therapeutics in the 3rd quarter valued at $211,000. Intech Investment Management LLC bought a new position in Akero Therapeutics during the third quarter valued at about $491,000. Algert Global LLC lifted its position in shares of Akero Therapeutics by 8.3% in the third quarter. Algert Global LLC now owns 68,052 shares of the company's stock worth $1,952,000 after buying an additional 5,191 shares during the last quarter. Summit Financial Wealth Advisors LLC bought a new stake in shares of Akero Therapeutics during the 3rd quarter worth about $205,000. Finally, FMR LLC boosted its stake in shares of Akero Therapeutics by 732.1% during the 3rd 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.

Insider Buying and Selling

In other news, VP Patrick Lamy sold 5,000 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the completion of the sale, the vice president now owns 33,492 shares in the company, valued at $1,910,048.76. The trade was a 12.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Cheng sold 30,000 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $54.90, for a total value of $1,647,000.00. Following the transaction, the chief executive officer now directly owns 716,062 shares in the company, valued at $39,311,803.80. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,135 shares of company stock worth $12,345,079 in the last quarter. Insiders own 7.94% of the company's stock.

Remove Ads

Akero Therapeutics Price Performance

NASDAQ AKRO traded down $0.14 on Monday, hitting $45.08. 731,238 shares of the company were exchanged, compared to its average volume of 807,730. Akero Therapeutics, Inc. has a 1-year low of $17.86 and a 1-year high of $58.40. The firm has a 50 day moving average of $43.93 and a two-hundred day moving average of $34.52. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.59 billion, a P/E ratio of -12.02 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.01). On average, equities analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AKRO shares. Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Citigroup lifted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. HC Wainwright upped their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Canaccord Genuity Group increased their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Finally, UBS Group lifted their price target on Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $76.29.

Akero Therapeutics 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.