Akero Therapeutics (NASDAQ:AKRO – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $12.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.95% from the stock’s current price.
According to Zacks, “Akero Therapeutics Inc. is a clinical-stage biotechnology company. It is focused on developing transformational treatments for non-alcoholic steatohepatitis and other serious metabolic disorders. The company’s product pipeline consists of AKR-001, for the treatment of non-alcoholic steatohepatitis, which are in clinical stage. Akero Therapeutics Inc. is based in San Francisco, United States. “
Shares of NASDAQ AKRO traded up $0.73 during trading on Monday, reaching $11.22. 7,857 shares of the company traded hands, compared to its average volume of 216,433. Akero Therapeutics has a 12-month low of $10.05 and a 12-month high of $32.31. The firm’s fifty day simple moving average is $14.12 and its 200 day simple moving average is $18.64. The stock has a market cap of $392.85 million, a P/E ratio of -3.88 and a beta of 0.55.
In other news, CEO Andrew Cheng sold 10,000 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $17.59, for a total value of $175,900.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.87% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Skorpios Trust purchased a new position in shares of Akero Therapeutics during the fourth quarter worth about $103,801,000. BlackRock Inc. boosted its holdings in Akero Therapeutics by 4.2% in the 4th quarter. BlackRock Inc. now owns 1,944,122 shares of the company’s stock valued at $41,119,000 after purchasing an additional 77,565 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Akero Therapeutics by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,907,328 shares of the company’s stock valued at $42,628,000 after purchasing an additional 257,638 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Akero Therapeutics by 5,565.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,766,714 shares of the company’s stock valued at $37,366,000 after purchasing an additional 1,735,530 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Akero Therapeutics by 25.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,758,501 shares of the company’s stock valued at $37,192,000 after purchasing an additional 360,101 shares in the last quarter. 94.56% of the stock is currently owned by institutional investors.
About Akero Therapeutics (Get Rating)
Akero Therapeutics, Inc, a cardio-metabolic nonalcoholic steatohepatitis (NASH) company, engages in the development of medicines designed to restore metabolic balance and improve overall health. The company's lead product candidate is efruxifermin (EFX), an analog of fibroblast growth factor 21, which protects against cellular stress and regulates metabolism of lipids, carbohydrates, and proteins throughout the body.
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