Akero Therapeutics (NASDAQ:AKRO) Trading 4.8% Higher After Analyst Upgrade

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) shares shot up 4.8% during trading on Wednesday after Morgan Stanley raised their price target on the stock from $46.00 to $96.00. Morgan Stanley currently has an overweight rating on the stock. Akero Therapeutics traded as high as $55.74 and last traded at $53.96. 2,331,912 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 2,092,562 shares. The stock had previously closed at $51.47.

A number of other research firms have also commented on AKRO. Canaccord Genuity Group lifted their target price on Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday. HC Wainwright lifted their price target on shares of Akero Therapeutics from $50.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Citigroup raised their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.57.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, COO Jonathan Young sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total value of $280,300.00. Following the completion of the sale, the chief operating officer now directly owns 218,083 shares in the company, valued at $6,112,866.49. This trade represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Richard White sold 2,817 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total value of $86,735.43. Following the sale, the chief financial officer now owns 38,335 shares of the company's stock, 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 90 days, insiders have sold 257,620 shares of company stock valued at $8,076,127. 7.94% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 purchasing an additional 446 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in 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 buying an additional 1,446 shares in the last quarter. Y Intercept Hong Kong Ltd grew 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 buying an additional 2,049 shares during the period. Handelsbanken Fonder AB increased 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 buying an additional 2,200 shares in the last quarter. Finally, LMR Partners LLP raised its position in shares of Akero Therapeutics by 17.0% in 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 period.

Akero Therapeutics Price Performance

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 moving average price of $29.31 and a 200 day moving average price of $28.51. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -14.43 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings data 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). As a group, equities research analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share 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.

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