NEOS Investment Management LLC Sells 10,929 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

NEOS Investment Management LLC lessened its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,150 shares of the company's stock after selling 10,929 shares during the quarter. NEOS Investment Management LLC's holdings in Akero Therapeutics were worth $894,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in Akero Therapeutics during the 3rd quarter worth approximately $211,000. AlphaQuest LLC raised its position in shares of Akero Therapeutics by 32,588.0% during the fourth quarter. AlphaQuest LLC now owns 8,172 shares of the company's stock worth $227,000 after purchasing an additional 8,147 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Akero Therapeutics in the 3rd quarter worth $265,000. XTX Topco Ltd acquired a new stake in Akero Therapeutics in the 3rd quarter valued at $308,000. Finally, Sei Investments Co. bought a new stake in Akero Therapeutics during the 4th quarter valued at $303,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AKRO. Citigroup lifted their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Bank of America raised 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 note on Thursday, January 30th. UBS Group raised their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Morgan Stanley reiterated an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Finally, 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. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $76.29.

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Insiders Place Their Bets

In other Akero Therapeutics news, Director G. Walmsley Graham bought 50,000 shares of Akero Therapeutics stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $43.55 per share, for a total transaction of $2,177,500.00. Following the completion of the purchase, the director now directly owns 1,200,000 shares of the company's stock, valued at approximately $52,260,000. This trade represents a 4.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Catriona Yale sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $44.76, for a total transaction of $447,600.00. Following the sale, the insider now owns 95,034 shares in the company, valued at $4,253,721.84. The trade was a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 341,309 shares of company stock valued at $15,863,578 and sold 242,135 shares valued at $12,064,779. Company insiders own 7.94% of the company's stock.

Akero Therapeutics Stock Performance

AKRO traded down $3.26 during trading on Friday, hitting $36.73. 1,541,126 shares of the company traded hands, compared to its average volume of 833,068. Akero Therapeutics, Inc. has a one year low of $17.86 and a one year high of $58.40. The stock's fifty day moving average is $47.41 and its 200 day moving average is $35.48. 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 firm has a market cap of $2.92 billion, a P/E ratio of -9.79 and a beta of -0.18.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its earnings results on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.01). As a group, equities analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS 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.