Charles Schwab Investment Management Inc. Sells 22,269 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 4.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 532,596 shares of the company's stock after selling 22,269 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.77% of Akero Therapeutics worth $15,280,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System raised its stake in Akero Therapeutics by 12.7% during the first quarter. California State Teachers Retirement System now owns 54,185 shares of the company's stock worth $1,369,000 after acquiring an additional 6,113 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Akero Therapeutics by 191.2% in the second quarter. SG Americas Securities LLC now owns 14,517 shares of the company's stock valued at $341,000 after acquiring an additional 9,532 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Akero Therapeutics by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company's stock valued at $5,894,000 after acquiring an additional 61,988 shares during the last quarter. Rhumbline Advisers grew its position in Akero Therapeutics by 30.3% during the 2nd quarter. Rhumbline Advisers now owns 107,338 shares of the company's stock worth $2,518,000 after acquiring an additional 24,940 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Akero Therapeutics by 23.7% in the 2nd quarter. TD Asset Management Inc now owns 154,592 shares of the company's stock valued at $3,627,000 after purchasing an additional 29,600 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AKRO shares. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup started coverage on Akero Therapeutics in a report on Monday, November 18th. They set a "buy" rating and a $65.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.83.

Insider Buying and Selling at Akero Therapeutics

In other news, insider Catriona Yale sold 3,871 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $27.56, for a total transaction of $106,684.76. Following the completion of the transaction, the insider now directly owns 75,294 shares of the company's stock, valued at $2,075,102.64. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total transaction of $45,500.84. Following the completion of the sale, the chief executive officer now owns 605,417 shares in the company, valued at $15,849,817.06. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,248 shares of company stock valued at $11,940,986. 7.94% of the stock is currently owned by corporate insiders.

Akero Therapeutics Trading Up 4.7 %

AKRO stock traded up $1.41 during midday trading on Friday, hitting $31.11. 507,515 shares of the company's stock were exchanged, compared to its average volume of 645,657. Akero Therapeutics, Inc. has a one year low of $15.32 and a one year high of $37.00. 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 company has a market cap of $2.17 billion, a PE ratio of -8.30 and a beta of -0.23. The stock's fifty day moving average price is $30.66 and its 200-day moving average price is $26.80.

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). Research analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal 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.