Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) shares rose 8.4% during mid-day trading on Thursday . The stock traded as high as $24.03 and last traded at $24.17. Approximately 575,406 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 902,891 shares. The stock had previously closed at $22.31.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on AKRO shares. HC Wainwright reiterated a "buy" rating and set a $50.00 price target on shares of Akero Therapeutics in a research report on Thursday. Citigroup initiated coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They issued a "buy" rating and a $65.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Akero Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $46.83.
Check Out Our Latest Report on Akero Therapeutics
Akero Therapeutics Trading Up 7.6 %
The stock has a market capitalization of $1.68 billion, a P/E ratio of -6.40 and a beta of -0.19. The business has a 50 day simple moving average of $29.39 and a 200-day simple moving average of $27.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.
Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, analysts predict that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.
Insider Activity at Akero Therapeutics
In other Akero Therapeutics news, insider Catriona Yale sold 4,515 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.53, for a total transaction of $146,872.95. Following the transaction, the insider now directly owns 74,158 shares in the company, valued at $2,412,359.74. This trade represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Cheng sold 63,539 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $31.53, for a total value of $2,003,384.67. Following the completion of the sale, the chief executive officer now directly owns 605,417 shares of the company's stock, valued at $19,088,798.01. This represents a 9.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,674 shares of company stock valued at $10,226,385. 7.94% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Akero Therapeutics by 21.6% during the third 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 last quarter. Eastern Bank acquired a new position in Akero Therapeutics in the 3rd quarter valued at $100,000. Summit Financial Wealth Advisors LLC bought a new position in Akero Therapeutics in the 3rd quarter worth $205,000. Victory Capital Management Inc. acquired a new position in Akero Therapeutics during the 3rd quarter worth $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Akero Therapeutics during the third quarter valued at about $265,000.
Akero Therapeutics Company Profile
(
Get Free Report)
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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