Akero Therapeutics (NASDAQ:AKRO) Sees Large Volume Increase on Analyst Upgrade

Shares of Akero Therapeutics, Inc. (NASDAQ:AKROGet Rating) saw unusually-strong trading volume on Wednesday after Morgan Stanley raised their price target on the stock from $26.00 to $30.00. Morgan Stanley currently has an equal weight rating on the stock. Approximately 13,477 shares traded hands during trading, a decline of 98% from the previous session’s volume of 581,915 shares.The stock last traded at $28.11 and had previously closed at $29.05.

Several other equities research analysts have also weighed in on the company. Raymond James lifted their price target on Akero Therapeutics from $14.00 to $25.00 in a research report on Tuesday. Evercore ISI raised Akero Therapeutics from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $50.00 in a report on Tuesday.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. raised its stake in shares of Akero Therapeutics by 25.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,758,501 shares of the company’s stock worth $37,192,000 after purchasing an additional 360,101 shares during the last quarter. Rock Springs Capital Management LP increased its position in Akero Therapeutics by 8.2% during the first quarter. Rock Springs Capital Management LP now owns 635,214 shares of the company’s stock valued at $9,014,000 after acquiring an additional 48,113 shares during the last quarter. Northern Trust Corp increased its position in Akero Therapeutics by 1.1% during the fourth quarter. Northern Trust Corp now owns 249,774 shares of the company’s stock valued at $5,283,000 after acquiring an additional 2,831 shares during the last quarter. Rafferty Asset Management LLC increased its position in Akero Therapeutics by 33.6% during the fourth quarter. Rafferty Asset Management LLC now owns 56,159 shares of the company’s stock valued at $1,188,000 after acquiring an additional 14,135 shares during the last quarter. Finally, Martingale Asset Management L P increased its position in Akero Therapeutics by 8.7% during the first quarter. Martingale Asset Management L P now owns 26,211 shares of the company’s stock valued at $373,000 after acquiring an additional 2,100 shares during the last quarter.

Akero Therapeutics Stock Performance

The company has a market cap of $1.04 billion, a PE ratio of -8.71 and a beta of 0.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.90 and a quick ratio of 6.90. The business has a 50-day moving average of $12.27 and a 200 day moving average of $11.88.

Akero Therapeutics (NASDAQ:AKROGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.08. Equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.13 EPS for the current fiscal year.

Akero Therapeutics Company Profile

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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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