Intech Investment Management LLC Takes Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Intech Investment Management LLC purchased a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,107 shares of the company's stock, valued at approximately $491,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AKRO. Russell Investments Group Ltd. increased its holdings in shares of Akero Therapeutics by 2,366.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company's stock worth $31,000 after purchasing an additional 1,183 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock valued at $71,000 after acquiring an additional 446 shares in the last quarter. Eastern Bank purchased a new position in shares of Akero Therapeutics in the third quarter valued at about $100,000. Victory Capital Management Inc. purchased a new position in shares of Akero Therapeutics in the third quarter valued at about $211,000. Finally, Virtu Financial LLC bought a new stake in shares of Akero Therapeutics in the first quarter worth about $270,000.

Akero Therapeutics Trading Down 0.3 %

AKRO stock traded down $0.09 during midday trading on Monday, reaching $32.01. 600,219 shares of the company traded hands, compared to its average volume of 856,553. Akero Therapeutics, Inc. has a 52-week low of $15.32 and a 52-week high of $37.00. 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 business has a 50 day moving average of $30.41 and a 200-day moving average of $26.42. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -8.54 and a beta of -0.26.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AKRO. Citigroup began coverage on Akero Therapeutics in a report on Monday, November 18th. They issued a "buy" rating and a $65.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Akero Therapeutics in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.83.

Insider Buying and Selling at Akero Therapeutics

In other news, insider Catriona Yale sold 2,485 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $27.52, for a total transaction of $68,387.20. Following the transaction, the insider now directly owns 75,294 shares in the company, valued at $2,072,090.88. The trade was a 3.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $31.73, for a total value of $3,438,453.18. Following the completion of the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,209,881.41. The trade was a 15.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,248 shares of company stock worth $10,817,436. Insiders own 7.94% of the company's stock.

About Akero Therapeutics

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.