Zacks Investment Research Upgrades Akouos (NASDAQ:AKUS) to Hold

Zacks Investment Research upgraded shares of Akouos (NASDAQ:AKUSGet Rating) from a sell rating to a hold rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Akouos, Inc. is a precision genetic medicine company. It develops gene therapies to restore, improve and preserve physiologic hearing. The Company’s product candidate includes AK-OTOF, a gene therapy for the treatment of hearing loss due to mutations in the OTOF gene. Akouos, Inc. is based in Boston, Massachusetts. “

Shares of AKUS opened at $3.68 on Thursday. Akouos has a 52-week low of $3.56 and a 52-week high of $16.50. The stock has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $7.29.

Akouos (NASDAQ:AKUSGet Rating) last announced its quarterly earnings data on Tuesday, March 29th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.06). On average, sell-side analysts forecast that Akouos will post -2.98 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Akouos by 5.7% during the fourth quarter. BlackRock Inc. now owns 1,985,946 shares of the company’s stock worth $16,881,000 after acquiring an additional 107,296 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Akouos by 1,947.9% during the 4th quarter. Wells Fargo & Company MN now owns 11,980 shares of the company’s stock worth $102,000 after purchasing an additional 11,395 shares during the period. Wexford Capital LP acquired a new stake in shares of Akouos during the 4th quarter worth about $425,000. TCG Crossover Management LLC purchased a new stake in Akouos in the 4th quarter valued at about $8,884,000. Finally, Parametric Portfolio Associates LLC lifted its position in Akouos by 15.5% in the fourth quarter. Parametric Portfolio Associates LLC now owns 87,328 shares of the company’s stock valued at $742,000 after buying an additional 11,695 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.

About Akouos (Get Rating)

Akouos, Inc, a precision genetic medicine company, developing gene therapies to restore, improve, and preserve physiologic hearing for individuals. The company's precision genetic medicine platform incorporates a proprietary adeno-associated viral vector library and a novel delivery approach. Its lead product candidate is AK-OTOF, a gene therapy for the treatment of hearing loss due to mutations in the OTOF gene.

Further Reading

Get a free copy of the Zacks research report on Akouos (AKUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Akouos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akouos and related companies with MarketBeat.com's FREE daily email newsletter.