Akero Therapeutics (NASDAQ:AKRO) Downgraded by Zacks Investment Research to Hold

Akero Therapeutics (NASDAQ:AKROGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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. “

NASDAQ AKRO traded down $0.05 during trading hours on Tuesday, hitting $9.99. 15,796 shares of the company’s stock were exchanged, compared to its average volume of 218,690. The business’s 50 day moving average is $13.35 and its 200-day moving average is $18.22. Akero Therapeutics has a 12-month low of $10.02 and a 12-month high of $30.53. The firm has a market capitalization of $349.88 million, a P/E ratio of -3.12 and a beta of 0.77.

Akero Therapeutics (NASDAQ:AKROGet Rating) last released its earnings results on Friday, May 6th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.06. On average, research analysts anticipate that Akero Therapeutics will post -3.55 EPS for the current fiscal year.

In other news, CEO Andrew Cheng sold 10,000 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 7.87% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. purchased a new position in shares of Akero Therapeutics in the 3rd quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Akero Therapeutics by 62.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,835 shares of the company’s stock worth $54,000 after purchasing an additional 1,476 shares during the period. Marshall Wace LLP purchased a new position in shares of Akero Therapeutics in the 4th quarter worth about $86,000. Macquarie Group Ltd. purchased a new position in shares of Akero Therapeutics in the 3rd quarter worth about $97,000. Finally, Royal Bank of Canada raised its holdings 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 worth $97,000 after purchasing an additional 393 shares during the period. Institutional investors own 94.56% of the company’s stock.

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.

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