Yiheng Capital Management L.P. Sells 92,624 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Yiheng Capital Management L.P. cut its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 666,145 shares of the company's stock after selling 92,624 shares during the period. Akero Therapeutics accounts for about 0.7% of Yiheng Capital Management L.P.'s portfolio, making the stock its 8th largest holding. Yiheng Capital Management L.P. owned approximately 0.95% of Akero Therapeutics worth $18,532,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AKRO. Victory Capital Management Inc. acquired a new stake in Akero Therapeutics during the 3rd quarter worth approximately $211,000. Intech Investment Management LLC acquired a new stake in Akero Therapeutics in the 3rd quarter valued at about $491,000. Algert Global LLC boosted its stake in shares of Akero Therapeutics by 8.3% in the 3rd quarter. Algert Global LLC now owns 68,052 shares of the company's stock valued at $1,952,000 after buying an additional 5,191 shares during the period. Summit Financial Wealth Advisors LLC acquired a new position in shares of Akero Therapeutics during the third quarter worth about $205,000. Finally, FMR LLC grew its position in shares of Akero Therapeutics by 732.1% during the third quarter. FMR LLC now owns 30,337 shares of the company's stock worth $870,000 after buying an additional 26,691 shares in the last quarter.

Akero Therapeutics Trading Up 0.4 %

Shares of Akero Therapeutics stock traded up $0.16 during trading hours on Tuesday, reaching $45.24. The stock had a trading volume of 874,613 shares, compared to its average volume of 807,624. 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, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -12.06 and a beta of -0.19. The firm has a 50 day simple moving average of $44.38 and a two-hundred day simple moving average of $34.65.

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

Insider Activity

In other news, VP Patrick Lamy sold 5,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the vice president now owns 33,492 shares in the company, valued at approximately $1,910,048.76. This trade represents a 12.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Young sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total value of $280,300.00. Following the sale, the chief operating officer now directly owns 218,083 shares in the company, valued at approximately $6,112,866.49. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 252,135 shares of company stock worth $12,345,079. 7.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

AKRO has been the subject of a number of analyst reports. HC Wainwright boosted their target price on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. UBS Group increased 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. Bank of America upgraded Akero Therapeutics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Morgan Stanley reiterated an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Finally, Citigroup boosted their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $76.29.

Akero Therapeutics 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.