Short Interest in Akero Therapeutics, Inc. (NASDAQ:AKRO) Increases By 32.0%

Akero Therapeutics, Inc. (NASDAQ:AKRO - Get Free Report) was the target of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 4,790,000 shares, a growth of 32.0% from the January 31st total of 3,630,000 shares. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is currently 4.1 days.

Insider Activity

In other Akero Therapeutics news, insider Timothy Rolph sold 4,818 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $30.91, for a total value of $148,924.38. Following the transaction, the insider now directly owns 178,337 shares in the company, valued at approximately $5,512,396.67. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Richard White sold 2,817 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $86,735.43. Following the sale, the chief financial officer now directly owns 38,335 shares in the company, valued at $1,180,334.65. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 237,492 shares of company stock worth $11,357,578 over the last ninety days. 7.94% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On Akero Therapeutics

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in Akero Therapeutics during the 4th quarter worth $41,000. Sterling Capital Management LLC lifted its stake in shares of Akero Therapeutics by 764.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,789 shares of the company's stock worth $50,000 after purchasing an additional 1,582 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company's stock worth $71,000 after buying an additional 446 shares during the period. Quarry LP acquired a new stake in shares of Akero Therapeutics in the fourth quarter valued at about $83,000. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Akero Therapeutics by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company's stock valued at $197,000 after buying an additional 450 shares during the period.

Akero Therapeutics Trading Down 3.5 %

NASDAQ:AKRO traded down $1.55 on Friday, hitting $42.12. 947,726 shares of the stock were exchanged, compared to its average volume of 851,533. The stock has a fifty day moving average of $40.21 and a 200-day moving average of $33.07. The stock has a market cap of $2.94 billion, a PE ratio of -11.23 and a beta of -0.19. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a fifty-two week low of $17.86 and a fifty-two week high of $58.40.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Bank of America upgraded shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and raised their target price for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. HC Wainwright lifted their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Monday. Morgan Stanley upped their target price on Akero Therapeutics from $46.00 to $96.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Citigroup raised their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group upped their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $76.29.

About Akero Therapeutics

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.