Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Rating) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 6,180,000 shares, a growth of 6.6% from the August 15th total of 5,800,000 shares. Currently, 26.5% of the company’s shares are short sold. Based on an average daily trading volume, of 397,000 shares, the days-to-cover ratio is presently 15.6 days.
Akero Therapeutics Stock Performance
NASDAQ:AKRO opened at $26.95 on Tuesday. The stock has a 50-day moving average price of $13.21 and a 200 day moving average price of $12.05. Akero Therapeutics has a 12-month low of $7.52 and a 12-month high of $29.78. The stock has a market capitalization of $1.01 billion, a P/E ratio of -8.58 and a beta of 0.56. The company has a current ratio of 6.90, a quick ratio of 6.90 and a debt-to-equity ratio of 0.06.
Akero Therapeutics (NASDAQ:AKRO – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.08. Equities research analysts forecast that Akero Therapeutics will post -3.07 EPS for the current fiscal year.
Analyst Ratings Changes
In other Akero Therapeutics news, insider Catriona Yale sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $27.48, for a total transaction of $1,099,200.00. Following the completion of the sale, the insider now owns 82,073 shares of the company’s stock, valued at approximately $2,255,366.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Andrew Cheng sold 60,000 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $27.42, for a total transaction of $1,645,200.00. Following the completion of the sale, the chief executive officer now directly owns 310,148 shares of the company’s stock, valued at approximately $8,504,258.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Catriona Yale sold 40,000 shares of Akero Therapeutics stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $27.48, for a total value of $1,099,200.00. Following the completion of the sale, the insider now directly owns 82,073 shares of the company’s stock, valued at approximately $2,255,366.04. The disclosure for this sale can be found here. Insiders sold 132,500 shares of company stock valued at $3,622,875 over the last quarter. 10.38% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of 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 buying an additional 1,735,530 shares during the period. Millennium Management LLC boosted its holdings in shares of Akero Therapeutics by 698.2% during the 2nd quarter. Millennium Management LLC now owns 520,769 shares of the company’s stock worth $4,921,000 after purchasing an additional 455,525 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Akero Therapeutics by 24.5% in the second quarter. Point72 Asset Management L.P. now owns 2,300,000 shares of the company’s stock valued at $21,735,000 after acquiring an additional 453,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Akero Therapeutics by 19.0% in the first quarter. Wellington Management Group LLP now owns 2,232,523 shares of the company’s stock valued at $31,679,000 after acquiring an additional 355,712 shares during the last quarter. Finally, Yiheng Capital Management L.P. lifted its stake in Akero Therapeutics by 21.2% during the second quarter. Yiheng Capital Management L.P. now owns 1,882,698 shares of the company’s stock worth $17,792,000 after purchasing an additional 329,708 shares in the last quarter.
Akero Therapeutics Company Profile
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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