Citigroup Issues Positive Forecast for Akero Therapeutics (NASDAQ:AKRO) Stock Price

Akero Therapeutics (NASDAQ:AKRO - Free Report) had its price objective lifted by Citigroup from $65.00 to $80.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright lifted their price objective on Akero Therapeutics from $50.00 to $72.00 and gave the company a "buy" rating in a research report on Monday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Akero Therapeutics presently has an average rating of "Buy" and an average price target of $75.86.

Akero Therapeutics Stock Performance

Shares of AKRO stock traded down $1.54 during mid-day trading on Tuesday, reaching $53.82. The stock had a trading volume of 857,784 shares, compared to its average volume of 2,111,678. The firm has a market cap of $3.76 billion, a PE ratio of -14.35 and a beta of -0.19. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a one year low of $15.32 and a one year high of $58.40. The firm's 50 day simple moving average is $30.26 and its 200 day simple moving average is $28.88.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). On average, analysts forecast that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Transactions at Akero Therapeutics

In other news, insider Catriona Yale sold 9,061 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.73, for a total transaction of $251,261.53. Following the completion of the sale, the insider now owns 74,158 shares in the company, valued at $2,056,401.34. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Patrick Lamy sold 925 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the transaction, the vice president now owns 17,858 shares in the company, valued at approximately $549,847.82. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 149,303 shares of company stock valued at $6,206,412 in the last ninety days. 7.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AKRO. Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $71,000 after buying an additional 446 shares in the last quarter. Eastern Bank acquired a new stake in shares of Akero Therapeutics during the 3rd quarter worth approximately $100,000. Summit Financial Wealth Advisors LLC bought a new position in Akero Therapeutics in the third quarter valued at approximately $205,000. Victory Capital Management Inc. bought a new position in Akero Therapeutics in the third quarter valued at approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Akero Therapeutics during the third quarter valued at approximately $265,000.

Akero Therapeutics Company Profile

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.