Geode Capital Management LLC Sells 48,027 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Geode Capital Management LLC decreased its position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,571,012 shares of the company's stock after selling 48,027 shares during the period. Geode Capital Management LLC owned approximately 2.25% of Akero Therapeutics worth $45,081,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AKRO. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 in the last quarter. Eastern Bank purchased a new stake in shares of Akero Therapeutics during the third quarter valued at $100,000. Summit Financial Wealth Advisors LLC bought a new stake in Akero Therapeutics in the 3rd quarter worth about $205,000. Victory Capital Management Inc. purchased a new position in Akero Therapeutics in the 3rd quarter worth about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Akero Therapeutics during the 3rd quarter valued at about $265,000.

Analysts Set New Price Targets

A number of analysts have recently commented on AKRO shares. Citigroup started coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They issued a "buy" rating and a $65.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.83.

Akero Therapeutics Price Performance

Shares of AKRO stock traded up $0.19 on Tuesday, hitting $28.56. 266,382 shares of the stock traded hands, compared to its average volume of 842,889. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The firm has a 50 day simple moving average of $30.86 and a two-hundred day simple moving average of $27.59. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -7.62 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.

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

Insider Buying and Selling

In other news, insider Catriona Yale sold 9,074 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.11, for a total transaction of $264,144.14. Following the completion of the transaction, the insider now directly owns 95,648 shares in the company, valued at approximately $2,784,313.28. This represents a 8.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patrick Lamy sold 1,000 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $29.13, for a total transaction of $29,130.00. Following the completion of the sale, the vice president now owns 34,258 shares in the company, valued at $997,935.54. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 396,802 shares of company stock worth $12,396,400. Corporate insiders own 7.94% of the company's stock.

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.