abrdn plc Trims Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

abrdn plc lessened its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 38.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,358 shares of the company's stock after selling 75,879 shares during the quarter. abrdn plc owned approximately 0.18% of Akero Therapeutics worth $3,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Akero Therapeutics by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company's stock valued at $92,702,000 after buying an additional 584,875 shares in the last quarter. Perceptive Advisors LLC grew its position in shares of Akero Therapeutics by 8.1% during the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company's stock worth $35,188,000 after purchasing an additional 112,426 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Akero Therapeutics by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company's stock valued at $5,894,000 after purchasing an additional 61,988 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Akero Therapeutics by 26.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company's stock worth $2,514,000 after purchasing an additional 22,195 shares in the last quarter. Finally, Rheos Capital Works Inc. boosted its stake in Akero Therapeutics by 27.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 276,000 shares of the company's stock worth $7,918,000 after purchasing an additional 60,000 shares during the period.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, insider Catriona Yale sold 8,851 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $27.53, for a total transaction of $243,668.03. Following the sale, the insider now directly owns 75,931 shares in the company, valued at $2,090,380.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Andrew Cheng sold 63,539 shares of the company's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $31.53, for a total transaction of $2,003,384.67. Following the transaction, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,088,798.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Catriona Yale sold 8,851 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $27.53, for a total transaction of $243,668.03. Following the completion of the sale, the insider now directly owns 75,931 shares in the company, valued at $2,090,380.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 269,315 shares of company stock valued at $7,958,413. Insiders own 7.94% of the company's stock.

Akero Therapeutics Price Performance

NASDAQ:AKRO traded down $0.28 during trading hours on Monday, reaching $32.05. The stock had a trading volume of 641,037 shares, compared to its average volume of 874,047. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.89 and a current ratio of 24.89. The stock has a market capitalization of $2.23 billion, a PE ratio of -9.48 and a beta of -0.26. Akero Therapeutics, Inc. has a 52 week low of $13.39 and a 52 week high of $37.00. The company has a 50 day moving average price of $28.32 and a two-hundred day moving average price of $24.81.

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

Analysts Set New Price Targets

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

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.