Akero Therapeutics (NASDAQ:AKRO) Trading Down 4.1% - What's Next?

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report)'s stock price fell 4.1% on Wednesday . The stock traded as low as $29.36 and last traded at $29.36. 20,603 shares traded hands during trading, a decline of 98% from the average session volume of 839,450 shares. The stock had previously closed at $30.61.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup assumed 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 for the company. HC Wainwright reissued a "buy" rating and set a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.83.

Akero Therapeutics Stock Down 6.2 %

The firm's 50-day simple moving average is $30.91 and its 200 day simple moving average is $27.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The stock has a market capitalization of $2.00 billion, a P/E ratio of -7.66 and a beta of -0.23.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). As a group, research analysts expect that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Insider Buying and Selling at Akero Therapeutics

In related news, insider Catriona Yale sold 5,500 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $27.65, for a total value of $152,075.00. Following the transaction, the insider now directly owns 75,294 shares in the company, valued at approximately $2,081,879.10. This represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Cheng sold 24,992 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $31.14, for a total transaction of $778,250.88. Following the transaction, the chief executive officer now owns 605,417 shares in the company, valued at approximately $18,852,685.38. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 392,228 shares of company stock valued at $12,255,200 in the last quarter. 7.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKRO. Simplify Asset Management Inc. boosted its holdings in shares of Akero Therapeutics by 15.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company's stock valued at $8,141,000 after purchasing an additional 38,279 shares in the last quarter. Perceptive Advisors LLC lifted its stake in shares of Akero Therapeutics by 8.1% in the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company's stock worth $35,188,000 after acquiring an additional 112,426 shares during the period. FMR LLC increased its position in Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company's stock valued at $870,000 after purchasing an additional 26,691 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Akero Therapeutics by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company's stock valued at $5,894,000 after purchasing an additional 61,988 shares during the last quarter. Finally, Propel Bio Management LLC raised its stake in Akero Therapeutics by 4.9% during the third quarter. Propel Bio Management LLC now owns 343,729 shares of the company's stock worth $9,862,000 after buying an additional 15,977 shares during the last quarter.

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.