Kennondale Capital Management LLC Acquires New Shares in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Kennondale Capital Management LLC purchased a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 28,217 shares of the company's stock, valued at approximately $785,000.

Other large investors have also recently bought and sold shares of the company. abrdn plc grew its holdings in Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company's stock worth $7,505,000 after acquiring an additional 146,424 shares during the period. FMR LLC grew its holdings in Akero Therapeutics by 732.1% during the 3rd 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 period. Proficio Capital Partners LLC acquired a new stake in Akero Therapeutics during the 4th quarter worth about $320,000. SG Americas Securities LLC grew its holdings in Akero Therapeutics by 4,022.1% during the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock worth $16,636,000 after acquiring an additional 583,486 shares during the period. Finally, Barclays PLC boosted its position in shares of Akero Therapeutics by 127.9% during the 3rd quarter. Barclays PLC now owns 127,668 shares of the company's stock worth $3,662,000 after purchasing an additional 71,652 shares in the last quarter.

Insiders Place Their Bets

In other Akero Therapeutics news, VP Patrick Lamy sold 5,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the vice president now owns 33,492 shares of the company's stock, valued at $1,910,048.76. This trade represents a 12.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total transaction of $280,300.00. Following the transaction, the chief operating officer now directly owns 218,083 shares in the company, valued at approximately $6,112,866.49. This represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,135 shares of company stock valued at $12,345,079 in the last 90 days. 7.94% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

A number of equities analysts have recently issued reports on AKRO shares. Bank of America raised shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. UBS Group increased their price objective on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Canaccord Genuity Group increased 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. Citigroup increased their price objective 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. Finally, Morgan Stanley reissued an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $76.29.

Akero Therapeutics Stock Up 1.3 %

NASDAQ AKRO traded up $0.56 during trading hours on Friday, hitting $45.22. The company's stock had a trading volume of 2,928,554 shares, compared to its average volume of 810,903. Akero Therapeutics, Inc. has a 52 week low of $17.86 and a 52 week high of $58.40. The company has a market capitalization of $3.60 billion, a PE ratio of -12.06 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. The company's 50-day simple moving average is $43.93 and its two-hundred day simple moving average is $34.40.

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