Simplify Asset Management Inc. Sells 19,089 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Simplify Asset Management Inc. reduced its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 264,677 shares of the company's stock after selling 19,089 shares during the quarter. Akero Therapeutics makes up 0.4% of Simplify Asset Management Inc.'s investment portfolio, making the stock its 14th largest holding. Simplify Asset Management Inc. owned approximately 0.38% of Akero Therapeutics worth $7,363,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in AKRO. Wellington Management Group LLP grew its holdings in Akero Therapeutics by 54.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company's stock valued at $226,554,000 after buying an additional 2,782,029 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Akero Therapeutics by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company's stock worth $203,053,000 after purchasing an additional 201,225 shares in the last quarter. RTW Investments LP increased its position 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 in the third quarter valued at $37,392,000. Finally, SG Americas Securities LLC lifted its position in Akero Therapeutics by 4,022.1% in the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock worth $16,636,000 after purchasing an additional 583,486 shares during the period.

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Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. UBS Group lifted their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a "buy" rating in a report on Friday, January 31st. HC Wainwright increased their target price on Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Bank of America upgraded 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. Finally, Citigroup increased their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $76.29.

Akero Therapeutics Trading Up 0.7 %

NASDAQ:AKRO traded up $0.29 during trading hours on Thursday, hitting $43.58. 441,531 shares of the stock were exchanged, compared to its average volume of 805,011. The company's 50 day moving average is $45.66 and its two-hundred day moving average is $34.90. The company has a market capitalization of $3.47 billion, a P/E ratio of -11.62 and a beta of -0.19. Akero Therapeutics, Inc. has a twelve month low of $17.86 and a twelve month high of $58.40. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.01). On average, sell-side analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Andrew Cheng sold 30,000 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the sale, the chief executive officer now directly owns 716,062 shares in the company, valued at $39,311,803.80. This trade represents a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jonathan Young sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the transaction, the chief operating officer now owns 218,083 shares of the company's stock, valued at approximately $6,112,866.49. This trade represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 341,309 shares of company stock valued at $15,863,578 and have sold 252,135 shares valued at $12,345,079. Insiders own 7.94% of the company's stock.

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.