Great Lakes Advisors LLC Makes New $5.38 Million Investment in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Great Lakes Advisors LLC purchased a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 193,384 shares of the company's stock, valued at approximately $5,380,000. Great Lakes Advisors LLC owned approximately 0.28% of Akero Therapeutics as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AKRO. Summit Financial Wealth Advisors LLC acquired a new position in shares of Akero Therapeutics in the 3rd quarter worth approximately $205,000. Victory Capital Management Inc. bought a new position in Akero Therapeutics in the 3rd quarter valued at $211,000. AlphaQuest LLC boosted its stake in Akero Therapeutics by 32,588.0% in the fourth quarter. AlphaQuest LLC now owns 8,172 shares of the company's stock worth $227,000 after purchasing an additional 8,147 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Akero Therapeutics during the third quarter worth $265,000. Finally, XTX Topco Ltd acquired a new stake in shares of Akero Therapeutics in the third quarter valued at $308,000.

Analyst Upgrades and Downgrades

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

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Insider Buying and Selling at Akero Therapeutics

In other news, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.77, for a total transaction of $1,253,100.00. Following the transaction, the chief executive officer now owns 656,062 shares in the company, valued at $27,403,709.74. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jonathan Young sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the sale, the chief operating officer now directly owns 218,083 shares of the company's stock, valued at approximately $6,112,866.49. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,135 shares of company stock valued at $11,897,479. Corporate insiders own 7.94% of the company's stock.

Akero Therapeutics Trading Up 1.5 %

Shares of NASDAQ:AKRO traded up $0.67 during midday trading on Monday, hitting $44.82. The company had a trading volume of 870,389 shares, compared to its average volume of 812,941. The firm has a fifty day simple moving average of $42.10 and a 200 day simple moving average of $33.89. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -11.95 and a beta of -0.19. 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, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its earnings results on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.01). On average, analysts predict that Akero Therapeutics, Inc. will post -3.99 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.