Akero Therapeutics, Inc. (NASDAQ:AKRO) Position Boosted by Simplify Asset Management Inc.

Simplify Asset Management Inc. increased its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 283,766 shares of the company's stock after buying an additional 38,279 shares during the period. Akero Therapeutics comprises approximately 0.4% of Simplify Asset Management Inc.'s holdings, making the stock its 26th largest holding. Simplify Asset Management Inc. owned about 0.41% of Akero Therapeutics worth $8,141,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Akero Therapeutics by 42.2% during the first quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company's stock worth $154,589,000 after purchasing an additional 1,815,569 shares during the period. Redmile Group LLC increased its position in shares of Akero Therapeutics by 67.5% during the first quarter. Redmile Group LLC now owns 1,858,702 shares of the company's stock worth $46,951,000 after purchasing an additional 749,226 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Akero Therapeutics by 19.0% during the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company's stock worth $92,702,000 after purchasing an additional 584,875 shares in the last quarter. Long Focus Capital Management LLC grew its holdings in Akero Therapeutics by 119.0% in the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company's stock valued at $16,882,000 after buying an additional 391,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Akero Therapeutics by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company's stock valued at $102,569,000 after buying an additional 384,555 shares in the last quarter.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CFO William Richard White sold 75,159 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the sale, the chief financial officer now owns 41,791 shares in the company, valued at $1,137,133.11. This represents a 64.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Catriona Yale sold 15,485 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $32.62, for a total value of $505,120.70. Following the sale, the insider now owns 74,158 shares in the company, valued at $2,419,033.96. The trade was a 17.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,397 shares of company stock valued at $12,997,971. Company insiders own 7.94% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a "buy" rating and set a $50.00 price target on shares of Akero Therapeutics in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.20.

Akero Therapeutics Price Performance

AKRO stock traded down $1.67 during midday trading on Friday, hitting $28.09. 1,099,145 shares of the stock were exchanged, compared to its average volume of 867,237. The stock's 50-day moving average price is $29.43 and its 200-day moving average price is $25.53. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -7.43 and a beta of -0.26. Akero Therapeutics, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $37.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 24.89 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.15). Research analysts predict that Akero Therapeutics, Inc. will post -3.94 earnings per share for the current 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.