Akero Therapeutics (NASDAQ:AKRO) Shares Gap Up on Analyst Upgrade

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report)'s share price gapped up prior to trading on Tuesday after UBS Group raised their price target on the stock from $42.00 to $109.00. The stock had previously closed at $51.71, but opened at $54.63. UBS Group currently has a buy rating on the stock. Akero Therapeutics shares last traded at $55.10, with a volume of 920,635 shares.

Several other equities research analysts also recently weighed in on the stock. Bank of America raised shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the company from $35.00 to $63.00 in a research note on Thursday. Citigroup increased their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley boosted their price objective on Akero Therapeutics from $46.00 to $96.00 and gave the company an "overweight" rating in a report on Tuesday. HC Wainwright increased their target price on Akero Therapeutics from $50.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Canaccord Genuity Group boosted their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $75.86.

Insider Activity

In other news, insider Catriona Yale sold 9,061 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $27.73, for a total transaction of $251,261.53. Following the sale, the insider now owns 74,158 shares in the company, valued at approximately $2,056,401.34. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Richard White sold 2,817 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $86,735.43. Following the sale, the chief financial officer now directly owns 38,335 shares in the company, valued at approximately $1,180,334.65. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,303 shares of company stock worth $6,206,412. 7.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Akero Therapeutics

Several large investors have recently added to or reduced their stakes in AKRO. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 last quarter. Rhumbline Advisers increased its stake in shares of Akero Therapeutics by 1.3% in the fourth quarter. Rhumbline Advisers now owns 105,686 shares of the company's stock worth $2,940,000 after acquiring an additional 1,310 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Akero Therapeutics by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company's stock worth $412,000 after purchasing an additional 1,446 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in Akero Therapeutics by 13.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company's stock valued at $485,000 after purchasing an additional 2,049 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Akero Therapeutics by 12.4% in the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company's stock valued at $574,000 after purchasing an additional 2,200 shares during the last quarter.

Akero Therapeutics Stock Performance

The firm's fifty day simple moving average is $30.26 and its 200 day simple moving average is $28.88. The company has a market capitalization of $3.77 billion, a PE ratio of -14.42 and a beta of -0.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, research analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

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.