Simplify Asset Management Inc. Decreases Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Simplify Asset Management Inc. cut 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 disclosure with the SEC. The institutional investor owned 264,677 shares of the company's stock after selling 19,089 shares during the quarter. Akero Therapeutics comprises about 0.4% of Simplify Asset Management Inc.'s holdings, making the stock its 14th largest position. Simplify Asset Management Inc. owned 0.38% of Akero Therapeutics worth $7,363,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS purchased a new position in Akero Therapeutics during the fourth quarter valued at approximately $306,000. Sei Investments Co. bought a new position in Akero Therapeutics in the 4th quarter valued at $303,000. American Century Companies Inc. grew its position in shares of Akero Therapeutics by 55.1% during the 4th quarter. American Century Companies Inc. now owns 112,442 shares of the company's stock valued at $3,128,000 after purchasing an additional 39,932 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Akero Therapeutics by 18.7% in the fourth quarter. Teacher Retirement System of Texas now owns 14,415 shares of the company's stock worth $401,000 after purchasing an additional 2,274 shares during the period. Finally, Intech Investment Management LLC boosted its stake in Akero Therapeutics by 121.6% during the fourth quarter. Intech Investment Management LLC now owns 37,902 shares of the company's stock valued at $1,054,000 after buying an additional 20,795 shares during the period.

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Akero Therapeutics Price Performance

Akero Therapeutics stock traded up $0.16 during mid-day trading on Tuesday, reaching $45.24. 842,785 shares of the company's stock traded hands, compared to its average volume of 807,624. 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, Inc. has a 12-month low of $17.86 and a 12-month high of $58.40. The stock has a 50 day moving average of $44.38 and a two-hundred day moving average of $34.65. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -12.06 and a beta of -0.19.

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 for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Equities analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Akero Therapeutics

In related news, VP Patrick Lamy sold 5,000 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the sale, the vice president now directly owns 33,492 shares in the company, valued at approximately $1,910,048.76. The trade was a 12.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction on Monday, March 17th. The shares were sold at an average price of $44.76, for a total value of $447,600.00. Following the completion of the sale, the insider now directly owns 95,034 shares of the company's stock, valued at $4,253,721.84. The trade was a 9.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,135 shares of company stock worth $12,345,079 over the last three months. Company 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.