Marshall Wace LLP Purchases Shares of 275,074 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Marshall Wace LLP acquired a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 275,074 shares of the company's stock, valued at approximately $7,653,000. Marshall Wace LLP owned 0.39% of Akero Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its position in Akero Therapeutics by 127.9% during the third quarter. Barclays PLC now owns 127,668 shares of the company's stock valued at $3,662,000 after buying an additional 71,652 shares during the period. Exome Asset Management LLC purchased a new stake in shares of Akero Therapeutics during the 3rd quarter worth about $2,212,000. SG Americas Securities LLC grew its position in shares of Akero Therapeutics by 4,022.1% during the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock valued at $16,636,000 after acquiring an additional 583,486 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Akero Therapeutics by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company's stock valued at $412,000 after purchasing an additional 1,446 shares in the last quarter. Finally, abrdn plc raised its holdings in Akero Therapeutics by 118.7% in the 4th quarter. abrdn plc now owns 269,782 shares of the company's stock worth $7,505,000 after purchasing an additional 146,424 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently commented on AKRO. Morgan Stanley restated an "overweight" rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. HC Wainwright boosted their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. UBS Group upped 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. Citigroup lifted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their price target for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $76.29.

Insider Activity at Akero Therapeutics

In other news, insider Timothy Rolph sold 31,250 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $55.77, for a total value of $1,742,812.50. Following the completion of the sale, the insider now owns 170,237 shares of the company's stock, valued at $9,494,117.49. This represents a 15.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William Richard White sold 676 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total transaction of $30,338.88. Following the sale, the chief financial officer now owns 61,959 shares of the company's stock, valued at $2,780,719.92. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 341,309 shares of company stock valued at $15,863,578 and sold 287,458 shares valued at $13,689,886. Insiders own 7.94% of the company's stock.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $38.50 on Wednesday. The firm has a 50-day simple moving average of $42.82 and a 200-day simple moving average of $36.31. 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 capitalization of $3.07 billion, a price-to-earnings ratio of -10.27 and a beta of -0.18. Akero Therapeutics, Inc. has a 52 week low of $17.86 and a 52 week high of $58.40.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings data 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, equities analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Akero Therapeutics Company 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.

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