Akero Therapeutics (NASDAQ:AKRO) Trading Up 5.8% - Here's What Happened

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) shot up 5.8% during trading on Tuesday . The company traded as high as $31.47 and last traded at $31.44. 85,791 shares were traded during mid-day trading, a decline of 90% from the average session volume of 873,853 shares. The stock had previously closed at $29.71.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Akero Therapeutics in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Akero Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $43.20.

Akero Therapeutics Trading Up 6.8 %

The stock has a market capitalization of $2.19 billion, a PE ratio of -9.66 and a beta of -0.25. The firm has a 50-day moving average price of $27.94 and a 200-day moving average price of $24.54. The company has a current ratio of 24.89, a quick ratio of 24.89 and a debt-to-equity ratio of 0.04.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.09. As a group, equities analysts forecast that Akero Therapeutics, Inc. will post -3.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total value of $45,500.84. Following the completion of the sale, the chief executive officer now owns 605,417 shares of the company's stock, valued at approximately $15,849,817.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total value of $45,500.84. Following the completion of the sale, the chief executive officer now owns 605,417 shares of the company's stock, valued at approximately $15,849,817.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William Richard White sold 75,159 shares of Akero Therapeutics stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $27.21, for a total value of $2,045,076.39. Following the completion of the sale, the chief financial officer now directly owns 41,791 shares of the company's stock, valued at approximately $1,137,133.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,315 shares of company stock valued at $7,440,170. 7.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AKRO. Russell Investments Group Ltd. boosted its stake in 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock worth $71,000 after purchasing an additional 446 shares during the period. Eastern Bank bought a new position in Akero Therapeutics in the 3rd quarter worth about $100,000. Headlands Technologies LLC boosted its stake in Akero Therapeutics by 253.5% in the 1st quarter. Headlands Technologies LLC now owns 4,217 shares of the company's stock worth $107,000 after purchasing an additional 3,024 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in Akero Therapeutics by 20.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company's stock worth $156,000 after purchasing an additional 1,030 shares during the period.

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.