Fred Alger Management LLC raised its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 117.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 269,601 shares of the company's stock after acquiring an additional 145,813 shares during the quarter. Fred Alger Management LLC owned approximately 0.39% of Akero Therapeutics worth $7,735,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Akero Therapeutics by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company's stock valued at $92,702,000 after purchasing an additional 584,875 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Akero Therapeutics by 8.1% during the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company's stock worth $35,188,000 after buying an additional 112,426 shares during the period. Long Focus Capital Management LLC lifted its position in shares of Akero Therapeutics by 119.0% during the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company's stock valued at $16,882,000 after buying an additional 391,000 shares in the last quarter. Emerald Advisers LLC grew its stake in Akero Therapeutics by 1.8% in the 3rd quarter. Emerald Advisers LLC now owns 524,427 shares of the company's stock valued at $15,046,000 after acquiring an additional 9,175 shares during the period. Finally, Propel Bio Management LLC increased its holdings in Akero Therapeutics by 4.9% in the 3rd quarter. Propel Bio Management LLC now owns 343,729 shares of the company's stock worth $9,862,000 after acquiring an additional 15,977 shares in the last quarter.
Akero Therapeutics Price Performance
Shares of NASDAQ:AKRO traded down $0.07 during midday trading on Friday, hitting $32.10. The company's stock had a trading volume of 228,782 shares, compared to its average volume of 681,953. The company has a market cap of $2.24 billion, a P/E ratio of -8.56 and a beta of -0.26. Akero Therapeutics, Inc. has a 12-month low of $15.32 and a 12-month high of $37.00. The business's 50 day simple moving average is $30.41 and its 200 day simple moving average is $26.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.
Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). On average, analysts forecast that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.
Analyst Ratings Changes
AKRO has been the topic of several recent analyst reports. HC Wainwright reaffirmed 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 Akero Therapeutics in a report on Monday, November 18th. They issued a "buy" rating and a $65.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Akero Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $46.83.
View Our Latest Stock Analysis on AKRO
Insider Buying and Selling
In other news, insider Catriona Yale sold 15,485 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $32.62, for a total transaction of $505,120.70. Following the completion of the sale, the insider now owns 74,158 shares in the company, valued at $2,419,033.96. This trade represents a 17.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $15,849,817.06. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,248 shares of company stock worth $10,817,436. 7.94% of the stock is owned by corporate insiders.
About Akero Therapeutics
(
Free Report)
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.
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