Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,559,631 shares of the company's stock after selling 11,381 shares during the quarter. Geode Capital Management LLC owned about 2.23% of Akero Therapeutics worth $43,399,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. abrdn plc grew its position in shares of Akero Therapeutics by 118.7% in the fourth quarter. abrdn plc now owns 269,782 shares of the company's stock valued at $7,505,000 after purchasing an additional 146,424 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Akero Therapeutics by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company's stock worth $15,042,000 after acquiring an additional 8,096 shares during the period. FMR LLC boosted its position in shares of Akero Therapeutics by 732.1% in the third quarter. FMR LLC now owns 30,337 shares of the company's stock worth $870,000 after acquiring an additional 26,691 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Akero Therapeutics in the fourth quarter valued at approximately $320,000. Finally, Vanguard Group Inc. increased its position in Akero Therapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company's stock worth $103,057,000 after purchasing an additional 27,830 shares during the last quarter.

Insider Activity

In related news, VP Patrick Lamy sold 5,000 shares of Akero Therapeutics stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the sale, the vice president now directly owns 33,492 shares in the company, valued at $1,910,048.76. This trade represents a 12.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the completion of the transaction, the chief executive officer now owns 716,062 shares of the company's stock, valued at approximately $39,311,803.80. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 341,309 shares of company stock valued at $15,863,578 and sold 287,458 shares valued at $13,689,886. Corporate insiders own 7.94% of the company's stock.

Akero Therapeutics Stock Performance

AKRO stock traded up $0.19 during midday trading on Friday, reaching $37.63. The company had a trading volume of 521,577 shares, compared to its average volume of 855,350. The firm has a market capitalization of $3.00 billion, a PE ratio of -10.03 and a beta of -0.18. The stock has a 50 day moving average price of $43.27 and a 200 day moving average price of $36.17. Akero Therapeutics, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $58.40. 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 (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.01). Analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analysts Set New Price Targets

AKRO has been the subject of a number of research analyst reports. HC Wainwright upped their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Morgan Stanley reissued an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Citigroup boosted their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, Canaccord Genuity Group increased their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $76.29.

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.