Akero Therapeutics (NASDAQ:AKRO) Shares Gap Up on Insider Buying Activity

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report)'s stock price gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $43.58, but opened at $45.38. Akero Therapeutics shares last traded at $43.15, with a volume of 76,195 shares.

Specifically, Director G. Walmsley Graham bought 50,000 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $43.55 per share, with a total value of $2,177,500.00. Following the completion of the transaction, the director now directly owns 1,200,000 shares of the company's stock, valued at $52,260,000. This represents a 4.35 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G. Walmsley Graham purchased 91,309 shares of Akero Therapeutics stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $4,086,077.75. Following the completion of the purchase, the director now directly owns 1,091,309 shares in the company, valued at approximately $48,836,077.75. This trade represents a 9.13 % increase in their position. The disclosure for this purchase can be found here.

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Wall Street Analysts Forecast Growth

AKRO has been the topic of a number of research analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. UBS Group boosted their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a report on Friday, January 31st. Citigroup raised their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. HC Wainwright increased their target price on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Finally, Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $76.29.

Akero Therapeutics Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -10.72 and a beta of -0.19. The business's 50 day moving average is $46.32 and its 200 day moving average is $35.25.

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

Hedge Funds Weigh In On Akero Therapeutics

Several hedge funds have recently made changes to their positions in AKRO. Summit Investment Advisors Inc. boosted its position in shares of Akero Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after purchasing an additional 450 shares during the period. Hsbc Holdings PLC raised its position in Akero Therapeutics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company's stock valued at $220,000 after purchasing an additional 621 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Akero Therapeutics by 1.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,442 shares of the company's stock worth $1,153,000 after purchasing an additional 637 shares during the period. Handelsbanken Fonder AB increased its stake in Akero Therapeutics by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company's stock valued at $584,000 after purchasing an additional 1,000 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Akero Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 95,600 shares of the company's stock worth $2,660,000 after buying an additional 1,100 shares during the period.

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.