RTW Investments LP increased its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,919,435 shares of the company's stock after buying an additional 487,450 shares during the quarter. Akero Therapeutics comprises about 2.5% of RTW Investments LP's portfolio, making the stock its 17th biggest position. RTW Investments LP owned approximately 8.48% of Akero Therapeutics worth $169,829,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AKRO. Janus Henderson Group PLC increased its holdings 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 acquiring an additional 201,225 shares in the last quarter. Perceptive Advisors LLC grew its position in Akero Therapeutics by 8.1% in the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company's stock valued at $35,188,000 after purchasing an additional 112,426 shares during the period. Point72 Asset Management L.P. bought a new stake in Akero Therapeutics during the 3rd quarter valued at $37,392,000. Long Focus Capital Management LLC increased its stake in Akero Therapeutics by 119.0% during the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company's stock valued at $16,882,000 after purchasing an additional 391,000 shares in the last quarter. Finally, Emerald Advisers LLC lifted its stake in shares of Akero Therapeutics by 1.8% in the third quarter. Emerald Advisers LLC now owns 524,427 shares of the company's stock valued at $15,046,000 after buying an additional 9,175 shares in the last quarter.
Insider Transactions at Akero Therapeutics
In other news, insider Catriona Yale sold 2,485 shares of Akero Therapeutics stock in a transaction on Monday, September 16th. The stock was sold at an average price of $27.52, for a total value of $68,387.20. Following the completion of the transaction, the insider now directly owns 75,294 shares in the company, valued at approximately $2,072,090.88. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 25,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $32.09, for a total value of $802,250.00. Following the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at $19,427,831.53. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,248 shares of company stock worth $11,940,986. 7.94% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
AKRO has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and set a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 18th. Citigroup began coverage on Akero Therapeutics in a report on Monday, November 18th. They set a "buy" rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.83.
View Our Latest Stock Report on Akero Therapeutics
Akero Therapeutics Stock Down 3.9 %
AKRO stock traded down $1.22 during trading on Thursday, reaching $29.70. The stock had a trading volume of 428,191 shares, compared to its average volume of 854,538. 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 company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -7.92 and a beta of -0.23. Akero Therapeutics, Inc. has a one year low of $15.32 and a one year high of $37.00. The company's 50 day moving average is $30.60 and its two-hundred day moving average is $26.63.
Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). Equities research analysts forecast that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.
Akero Therapeutics Company Profile
(
Free Report)
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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