State Street Corp Sells 186,480 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

State Street Corp decreased its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,502,946 shares of the company's stock after selling 186,480 shares during the period. State Street Corp owned about 3.59% of Akero Therapeutics worth $71,810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AKRO. Simplify Asset Management Inc. grew its position in Akero Therapeutics by 15.6% in the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company's stock worth $8,141,000 after acquiring an additional 38,279 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Akero Therapeutics by 8.1% in the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company's stock worth $35,188,000 after purchasing an additional 112,426 shares in the last quarter. FMR LLC increased its position in shares of Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company's stock valued at $870,000 after purchasing an additional 26,691 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Akero Therapeutics by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company's stock valued at $5,894,000 after buying an additional 61,988 shares in the last quarter. Finally, Propel Bio Management LLC lifted its position in Akero Therapeutics by 4.9% in the 3rd quarter. Propel Bio Management LLC now owns 343,729 shares of the company's stock worth $9,862,000 after buying an additional 15,977 shares during the last quarter.

Insiders Place Their Bets

In related news, CFO William Richard White sold 2,817 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total transaction of $86,735.43. Following the transaction, the chief financial officer now owns 38,335 shares in the company, valued at $1,180,334.65. The trade was a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares of the company's stock, valued at approximately $19,209,881.41. The trade was a 15.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 392,228 shares of company stock worth $12,255,200. 7.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AKRO shares. HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup initiated coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They issued a "buy" rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $46.83.

Akero Therapeutics Trading Up 4.7 %

Shares of AKRO opened at $30.61 on Wednesday. The stock has a market capitalization of $2.14 billion, a P/E ratio of -8.16 and a beta of -0.23. Akero Therapeutics, Inc. has a twelve month low of $15.32 and a twelve month high of $37.00. 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 firm has a fifty day simple moving average of $30.91 and a two-hundred day simple moving average of $27.35.

Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last posted its 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). On average, research analysts anticipate that Akero Therapeutics, Inc. will post -3.96 EPS 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.