Mirae Asset Global Investments Co. Ltd. Purchases 9,567 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 31.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 39,885 shares of the company’s stock after acquiring an additional 9,567 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Akero Therapeutics were worth $931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AKRO. Orion Capital Management LLC bought a new stake in Akero Therapeutics during the 3rd quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. raised its position in shares of Akero Therapeutics by 352.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,449 shares of the company’s stock valued at $151,000 after buying an additional 5,023 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Akero Therapeutics during the third quarter valued at approximately $238,000. Amalgamated Bank raised its position in shares of Akero Therapeutics by 18.2% during the third quarter. Amalgamated Bank now owns 7,559 shares of the company’s stock valued at $382,000 after buying an additional 1,166 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its position in shares of Akero Therapeutics by 10.8% during the third quarter. E Fund Management Co. Ltd. now owns 9,428 shares of the company’s stock valued at $477,000 after buying an additional 918 shares during the last quarter.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $21.00 on Wednesday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -7.37 and a beta of -0.38. The firm’s fifty day moving average is $24.76 and its 200 day moving average is $20.98. The company has a quick ratio of 29.27, a current ratio of 29.27 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a 52-week low of $11.25 and a 52-week high of $58.38.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.17). Sell-side analysts forecast that Akero Therapeutics, Inc. will post -4.06 EPS for the current fiscal year.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, insider Catriona Yale sold 20,646 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.49, for a total transaction of $732,726.54. Following the transaction, the insider now owns 78,415 shares in the company, valued at $2,782,948.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Akero Therapeutics news, insider Catriona Yale sold 20,646 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.49, for a total transaction of $732,726.54. Following the transaction, the insider now owns 78,415 shares in the company, valued at $2,782,948.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $24.38, for a total transaction of $121,900.00. Following the transaction, the chief operating officer now owns 263,306 shares in the company, valued at approximately $6,419,400.28. The disclosure for this sale can be found here. Insiders have sold 100,646 shares of company stock worth $3,319,877 over the last quarter. Insiders own 9.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AKRO. HC Wainwright lifted their price objective on shares of Akero Therapeutics from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, March 1st. UBS Group lifted their price objective on shares of Akero Therapeutics from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Bank of America assumed coverage on shares of Akero Therapeutics in a research report on Monday. They issued a “neutral” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.71.

About Akero Therapeutics

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.