Akero Therapeutics (NASDAQ:AKRO) Posts Earnings Results, Beats Estimates By $0.06 EPS

Akero Therapeutics (NASDAQ:AKROGet Rating) released its quarterly earnings results on Friday. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06, MarketWatch Earnings reports.

AKRO stock traded down $0.17 during midday trading on Friday, reaching $11.16. The stock had a trading volume of 228,747 shares, compared to its average volume of 193,980. The business has a fifty day simple moving average of $13.50 and a two-hundred day simple moving average of $18.34. The firm has a market cap of $390.82 million, a price-to-earnings ratio of -3.86 and a beta of 0.77. Akero Therapeutics has a twelve month low of $10.05 and a twelve month high of $30.53.

In related news, CEO Andrew Cheng sold 10,000 shares of Akero Therapeutics stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.09% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Akero Therapeutics during the 4th quarter worth about $86,000. Royal Bank of Canada grew its position in shares of Akero Therapeutics by 9.9% in the 3rd quarter. Royal Bank of Canada now owns 4,365 shares of the company’s stock valued at $97,000 after purchasing an additional 393 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Akero Therapeutics by 409.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,798 shares of the company’s stock valued at $107,000 after purchasing an additional 3,857 shares during the period. Invesco Ltd. acquired a new position in shares of Akero Therapeutics in the 2nd quarter valued at approximately $249,000. Finally, Wells Fargo & Company MN grew its position in shares of Akero Therapeutics by 2,614.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,950 shares of the company’s stock valued at $274,000 after purchasing an additional 12,473 shares during the period. Institutional investors own 94.56% of the company’s stock.

Separately, Zacks Investment Research raised Akero Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $38.40.

Akero Therapeutics Company Profile (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.

Further Reading

Earnings History for Akero Therapeutics (NASDAQ:AKRO)

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