Cinctive Capital Management LP Buys Shares of 65,307 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Cinctive Capital Management LP purchased a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 65,307 shares of the company's stock, valued at approximately $1,874,000. Cinctive Capital Management LP owned about 0.09% of Akero Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System increased 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 during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Akero Therapeutics by 30.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 28,521 shares of the company's stock valued at $720,000 after buying an additional 6,590 shares during the period. SG Americas Securities LLC increased its holdings in Akero Therapeutics by 191.2% in the 2nd quarter. SG Americas Securities LLC now owns 14,517 shares of the company's stock valued at $341,000 after purchasing an additional 9,532 shares during the last quarter. Bank of New York Mellon Corp grew 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 worth $5,894,000 after acquiring an additional 61,988 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Akero Therapeutics by 30.3% during the second quarter. Rhumbline Advisers now owns 107,338 shares of the company's stock worth $2,518,000 after purchasing an additional 24,940 shares in the last quarter.

Akero Therapeutics Price Performance

Shares of AKRO traded up $0.17 during midday trading on Wednesday, hitting $30.92. The company's stock had a trading volume of 1,403,930 shares, compared to its average volume of 856,359. Akero Therapeutics, Inc. has a one year low of $15.32 and a one year high of $37.00. The company's fifty day simple moving average is $30.59 and its two-hundred day simple moving average is $26.61. 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 has a market capitalization of $2.16 billion, a price-to-earnings ratio of -8.25 and a beta of -0.23.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). As a group, equities analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AKRO shares. Citigroup initiated coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They set a "buy" rating and a $65.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $50.00 price objective on shares of Akero Therapeutics in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.83.

Insider Activity at Akero Therapeutics

In related news, insider Catriona Yale sold 15,485 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $32.62, for a total value of $505,120.70. Following the sale, the insider now owns 74,158 shares in the company, valued at $2,419,033.96. This represents a 17.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Young sold 10,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $28.18, for a total value of $281,800.00. Following the completion of the sale, the chief operating officer now directly owns 226,286 shares of the company's stock, valued at $6,376,739.48. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 383,248 shares of company stock worth $11,940,986 in the last three months. 7.94% of the stock is owned by insiders.

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.