Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 85.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,159 shares of the company's stock after selling 59,836 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Akero Therapeutics were worth $291,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AKRO. Russell Investments Group Ltd. boosted its position in Akero Therapeutics by 2,366.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company's stock worth $31,000 after acquiring an additional 1,183 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock worth $71,000 after purchasing an additional 446 shares during the last quarter. Eastern Bank bought a new position in shares of Akero Therapeutics in the third quarter valued at $100,000. Victory Capital Management Inc. purchased a new stake in Akero Therapeutics during the third quarter valued at about $211,000. Finally, Virtu Financial LLC purchased a new stake in Akero Therapeutics in the 1st quarter worth about $270,000.

Wall Street Analysts Forecast Growth

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

Akero Therapeutics Trading Down 0.2 %

Akero Therapeutics stock traded down $0.07 during mid-day trading on Friday, hitting $32.10. 228,782 shares of the company's stock traded hands, compared to its average volume of 681,953. Akero Therapeutics, Inc. has a fifty-two week low of $15.32 and a fifty-two week high of $37.00. The firm has a 50 day simple moving average of $30.41 and a two-hundred day simple moving average of $26.39. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly 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). On average, analysts anticipate that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Insider Activity

In other Akero Therapeutics news, insider Catriona Yale sold 9,061 shares of Akero Therapeutics stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $27.73, for a total transaction of $251,261.53. Following the transaction, the insider now owns 74,158 shares of the company's stock, valued at $2,056,401.34. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cheng sold 1,738 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total transaction of $45,500.84. Following the completion of the transaction, the chief executive officer now directly 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 90 days, insiders sold 348,248 shares of company stock valued at $10,817,436. Insiders own 7.94% of the company's stock.

Akero Therapeutics 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.