JPMorgan Chase & Co. Increases Stock Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

JPMorgan Chase & Co. lifted its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 528,207 shares of the company's stock after purchasing an additional 40,161 shares during the quarter. JPMorgan Chase & Co. owned about 0.76% of Akero Therapeutics worth $14,695,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Akero Therapeutics by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company's stock valued at $103,057,000 after buying an additional 27,830 shares during the period. SG Americas Securities LLC raised its position in Akero Therapeutics by 4,022.1% in the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock valued at $16,636,000 after purchasing an additional 583,486 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Akero Therapeutics by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company's stock valued at $15,042,000 after purchasing an additional 8,096 shares during the last quarter. abrdn plc lifted its stake in shares of Akero Therapeutics by 118.7% in the 4th 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 last quarter. Finally, Great Lakes Advisors LLC purchased a new position in shares of Akero Therapeutics during the 4th quarter worth $5,380,000.

Remove Ads

Akero Therapeutics Stock Up 1.3 %

Akero Therapeutics stock traded up $0.48 during trading on Tuesday, reaching $38.08. The stock had a trading volume of 652,762 shares, compared to its average volume of 857,276. Akero Therapeutics, Inc. has a 52-week low of $17.86 and a 52-week high of $58.40. The business has a 50 day moving average price of $44.46 and a 200 day moving average price of $35.98. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.03 billion, a PE ratio of -10.15 and a beta of -0.18.

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

Insider Buying and Selling

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 716,062 shares of the company's stock, valued at $39,311,803.80. The trade was a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Timothy Rolph sold 6,250 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $35.88, for a total value of $224,250.00. Following the completion of the sale, the insider now directly owns 169,721 shares of the company's stock, valued at $6,089,589.48. The trade was a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 341,309 shares of company stock worth $15,863,578 and have sold 278,385 shares worth $13,345,929. 7.94% of the stock is owned by company insiders.

Analyst Ratings Changes

AKRO has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Canaccord Genuity Group lifted their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. HC Wainwright raised their price target on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Morgan Stanley reaffirmed an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Finally, Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and increased their target price for the stock 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, the stock currently has an average rating of "Buy" and a consensus target price 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.