Proficio Capital Partners LLC Acquires Shares of 11,490 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Proficio Capital Partners LLC bought a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,490 shares of the company's stock, valued at approximately $320,000.

Several other institutional investors and hedge funds also recently modified their holdings of AKRO. Wellington Management Group LLP lifted its position in Akero Therapeutics by 54.4% during the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company's stock worth $226,554,000 after acquiring an additional 2,782,029 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Akero Therapeutics by 2.9% during the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company's stock valued at $203,053,000 after purchasing an additional 201,225 shares during the period. RTW Investments LP raised its stake in shares of Akero Therapeutics by 9.0% during the third quarter. RTW Investments LP now owns 5,919,435 shares of the company's stock valued at $169,829,000 after purchasing an additional 487,450 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Akero Therapeutics during the third quarter worth $37,392,000. Finally, SG Americas Securities LLC boosted its stake in shares of Akero Therapeutics by 4,022.1% in the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock valued at $16,636,000 after purchasing an additional 583,486 shares during the period.

Insiders Place Their Bets

In other news, Director G. Walmsley Graham bought 200,000 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $48.00 per share, for a total transaction of $9,600,000.00. Following the transaction, the director now owns 1,000,000 shares in the company, valued at approximately $48,000,000. This trade represents a 25.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Patrick Lamy sold 1,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $29.13, for a total value of $29,130.00. Following the sale, the vice president now directly owns 34,258 shares in the company, valued at approximately $997,935.54. This trade represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,574 shares of company stock valued at $10,774,514. Company insiders own 7.94% of the company's stock.

Akero Therapeutics Trading Up 5.1 %

Shares of NASDAQ AKRO opened at $43.82 on Wednesday. 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's 50 day moving average price is $41.09 and its two-hundred day moving average price is $33.51. Akero Therapeutics, Inc. has a 52-week low of $17.86 and a 52-week high of $58.40. The stock has a market capitalization of $3.49 billion, a P/E ratio of -11.69 and a beta of -0.19.

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Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its quarterly 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). On average, analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AKRO has been the topic of several analyst reports. Canaccord Genuity Group lifted their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. UBS Group lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Morgan Stanley reiterated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Citigroup raised their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Finally, Bank of America raised Akero Therapeutics from a "neutral" rating to a "buy" rating and upped their target price for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $76.29.

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.

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