Fmr LLC Raises Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

FMR LLC increased its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 732.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,337 shares of the company's stock after buying an additional 26,691 shares during the period. FMR LLC's holdings in Akero Therapeutics were worth $870,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Long Focus Capital Management LLC lifted its position in shares of Akero Therapeutics by 119.0% in the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company's stock worth $16,882,000 after purchasing an additional 391,000 shares during the period. Perceptive Advisors LLC grew its stake in shares of Akero Therapeutics by 8.1% in the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company's stock valued at $35,188,000 after buying an additional 112,426 shares during the period. Bank of New York Mellon Corp increased its position in Akero Therapeutics by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company's stock valued at $5,894,000 after buying an additional 61,988 shares in the last quarter. Rheos Capital Works Inc. raised its stake in Akero Therapeutics by 27.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 276,000 shares of the company's stock worth $7,918,000 after buying an additional 60,000 shares during the period. Finally, Simplify Asset Management Inc. raised its stake in Akero Therapeutics by 15.6% during the 3rd quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company's stock worth $8,141,000 after buying an additional 38,279 shares during the period.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO Andrew Cheng sold 24,992 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $31.14, for a total transaction of $778,250.88. Following the completion of the transaction, the chief executive officer now owns 605,417 shares of the company's stock, valued at approximately $18,852,685.38. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $28,480.75. Following the completion of the sale, the vice president now owns 17,858 shares in the company, valued at $549,847.82. This represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 392,228 shares of company stock valued at $12,255,200. 7.94% of the stock is owned by insiders.

Akero Therapeutics Stock Performance

NASDAQ AKRO opened at $30.61 on Wednesday. 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 capitalization of $2.14 billion, a PE ratio of -8.16 and a beta of -0.23. Akero Therapeutics, Inc. has a 52-week low of $15.32 and a 52-week high of $37.00. The company has a 50-day simple moving average of $30.91 and a 200 day simple moving average of $27.35.

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, research analysts predict that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

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.