Akero Therapeutics (NASDAQ:AKRO) Trading Up 3.5% - Here's Why

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report)'s share price traded up 3.5% on Tuesday . The stock traded as high as $30.38 and last traded at $30.24. 37,616 shares were traded during mid-day trading, a decline of 96% from the average session volume of 839,792 shares. The stock had previously closed at $29.23.

Analyst Upgrades and Downgrades

AKRO has been the topic of several analyst reports. Citigroup started coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They set a "buy" rating and a $65.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.83.

Akero Therapeutics Trading Up 4.7 %

The firm has a market cap of $2.14 billion, a PE ratio of -8.16 and a beta of -0.23. The company's fifty day moving average price is $30.91 and its two-hundred day moving average price is $27.35. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly 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). As a group, sell-side analysts forecast that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Catriona Yale sold 15,485 shares of Akero Therapeutics stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $32.62, for a total transaction of $505,120.70. Following the completion of the transaction, the insider now directly owns 74,158 shares in the company, valued at $2,419,033.96. The trade was a 17.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $31.73, for a total value of $3,438,453.18. Following the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,209,881.41. The trade was a 15.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 396,099 shares of company stock valued at $12,361,885. Corporate insiders own 7.94% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AKRO. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock worth $71,000 after buying an additional 446 shares during the period. Eastern Bank purchased a new stake in shares of Akero Therapeutics during the 3rd quarter worth about $100,000. Summit Financial Wealth Advisors LLC acquired a new stake in Akero Therapeutics during the 3rd quarter worth approximately $205,000. Victory Capital Management Inc. purchased a new position in Akero Therapeutics in the third quarter valued at approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Akero Therapeutics during the third quarter worth approximately $265,000.

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.