Bank of New York Mellon Corp Sells 6,414 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Bank of New York Mellon Corp decreased its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 200,430 shares of the company's stock after selling 6,414 shares during the period. Bank of New York Mellon Corp owned approximately 0.29% of Akero Therapeutics worth $5,576,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in Akero Therapeutics in the third quarter valued at about $211,000. LMR Partners LLP increased its position in Akero Therapeutics by 17.0% during the 3rd quarter. LMR Partners LLP now owns 20,597 shares of the company's stock worth $591,000 after purchasing an additional 2,997 shares in the last quarter. Intech Investment Management LLC bought a new position in Akero Therapeutics in the 3rd quarter valued at approximately $491,000. Algert Global LLC boosted its position in Akero Therapeutics by 8.3% in the third quarter. Algert Global LLC now owns 68,052 shares of the company's stock valued at $1,952,000 after buying an additional 5,191 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC bought a new stake in shares of Akero Therapeutics during the third quarter worth $205,000.

Insider Buying and Selling

In other Akero Therapeutics news, VP Patrick Lamy sold 5,000 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the vice president now owns 33,492 shares in the company, valued at approximately $1,910,048.76. This represents a 12.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total transaction of $280,300.00. Following the transaction, the chief operating officer now owns 218,083 shares of the company's stock, valued at $6,112,866.49. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,135 shares of company stock valued at $12,345,079 over the last ninety days. 7.94% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on AKRO shares. HC Wainwright raised their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Morgan Stanley reaffirmed an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Canaccord Genuity Group lifted their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Finally, UBS Group boosted their price objective on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $76.29.

Akero Therapeutics Trading Down 0.2 %

AKRO traded down $0.11 during trading on Thursday, reaching $44.68. 335,020 shares of the stock traded hands, compared to its average volume of 807,085. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The stock's 50-day moving average is $43.16 and its 200 day moving average is $34.21. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40. The stock has a market capitalization of $3.56 billion, a PE ratio of -11.91 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Equities analysts anticipate that Akero Therapeutics, Inc. will post -3.99 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.