Akero Therapeutics (NASDAQ:AKRO) Stock Price Down 8.6% - Should You Sell?

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) shares fell 8.6% during trading on Monday . The stock traded as low as $22.39 and last traded at $22.70. 522,975 shares were traded during trading, a decline of 38% from the average session volume of 839,253 shares. The stock had previously closed at $24.84.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AKRO. Citigroup initiated coverage on Akero Therapeutics in a research note on Monday, November 18th. They issued a "buy" rating and a $65.00 price target for the company. HC Wainwright restated a "buy" rating and set a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.83.

Akero Therapeutics Trading Down 8.9 %

The firm has a market capitalization of $1.58 billion, a P/E ratio of -6.03 and a beta of -0.19. 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 stock has a 50 day simple moving average of $29.87 and a 200-day simple moving average of $28.02.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, equities research analysts forecast that Akero Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 108,366 shares of Akero Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the transaction, the chief executive officer now owns 605,417 shares of the company's stock, valued at $19,209,881.41. The trade was a 15.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Catriona Yale sold 4,515 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $32.53, for a total transaction of $146,872.95. Following the completion of the sale, the insider now directly owns 74,158 shares of the company's stock, valued at approximately $2,412,359.74. This trade represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 350,666 shares of company stock worth $11,004,636 in the last three months. Corporate insiders own 7.94% of the company's stock.

Hedge Funds Weigh In On Akero Therapeutics

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock valued at $71,000 after purchasing an additional 446 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Akero Therapeutics by 13.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company's stock worth $485,000 after buying an additional 2,049 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Akero Therapeutics by 12.4% in the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company's stock worth $574,000 after buying an additional 2,200 shares in the last quarter. LMR Partners LLP boosted its position in shares of Akero Therapeutics by 17.0% during the third quarter. LMR Partners LLP now owns 20,597 shares of the company's stock worth $591,000 after acquiring an additional 2,997 shares during the last quarter. Finally, Eastern Bank purchased a new position in Akero Therapeutics during the third quarter valued at $100,000.

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.