Akouos (NASDAQ:AKUS) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Akouos (NASDAQ:AKUS – Get Rating) from a sell rating to a hold rating in a report released on Wednesday morning, 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. “

AKUS stock opened at $3.08 on Wednesday. The stock has a market capitalization of $106.58 million, a PE ratio of -1.22 and a beta of 1.08. Akouos has a 52 week low of $3.07 and a 52 week high of $16.50. The firm has a 50 day moving average of $4.47 and a 200 day moving average of $6.81.

Akouos (NASDAQ:AKUS – Get Rating) last posted its quarterly earnings results 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). Sell-side analysts anticipate that Akouos will post -2.98 earnings per share for the current year.

Several large investors have recently made changes to their positions in AKUS. Royal Bank of Canada boosted its position in Akouos by 107.5% in the third quarter. Royal Bank of Canada now owns 3,630 shares of the company’s stock valued at $42,000 after buying an additional 1,881 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Akouos by 171.3% in the 3rd quarter. Captrust Financial Advisors now owns 6,449 shares of the company’s stock valued at $75,000 after acquiring an additional 4,072 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Akouos in the third quarter worth $80,000. Citigroup Inc. raised its holdings in shares of Akouos by 47.2% during the fourth quarter. Citigroup Inc. now owns 7,167 shares of the company’s stock worth $60,000 after purchasing an additional 2,297 shares during the last quarter. Finally, Invesco Ltd. acquired a new position in Akouos during the third quarter valued at $118,000. Hedge funds and other institutional investors own 96.57% of the company’s stock.

Akouos Company Profile (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.

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