Akero Therapeutics (NASDAQ:AKRO) Stock Price Up 5.8%

Shares of Akero Therapeutics, Inc. (NASDAQ:AKROGet Free Report) shot up 5.8% during mid-day trading on Friday . The stock traded as high as $22.57 and last traded at $22.57. 196,306 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,093,556 shares. The stock had previously closed at $21.33.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America initiated coverage on Akero Therapeutics in a research note on Monday, April 22nd. They set a “neutral” rating and a $30.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a research report on Monday, May 13th. UBS Group increased 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. Evercore ISI reduced their target price on shares of Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. Finally, Canaccord Genuity Group lowered their price target on shares of Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Akero Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.13.

Check Out Our Latest Stock Analysis on Akero Therapeutics

Akero Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 30.12 and a current ratio of 30.12. The company has a market capitalization of $1.59 billion, a P/E ratio of -7.19 and a beta of -0.31. The firm’s fifty day moving average is $20.78 and its 200 day moving average is $22.09.

Akero Therapeutics (NASDAQ:AKROGet Free Report) last released its earnings results on Friday, May 10th. The company reported ($0.90) EPS for the quarter, meeting analysts’ consensus estimates of ($0.90). As a group, analysts predict that Akero Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Insider Transactions at Akero Therapeutics

In other news, COO Jonathan Young sold 5,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $19.29, for a total value of $96,450.00. Following the transaction, the chief operating officer now directly owns 253,306 shares in the company, valued at $4,886,272.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 15,000 shares of company stock worth $319,100. 7.94% of the stock is currently owned by insiders.

Institutional Trading of Akero Therapeutics

Large investors have recently modified their holdings of the company. RTW Investments LP bought a new stake in Akero Therapeutics during the 4th quarter valued at $83,891,000. Wellington Management Group LLP increased its stake in shares of Akero Therapeutics by 247.7% during the fourth quarter. Wellington Management Group LLP now owns 2,881,989 shares of the company’s stock valued at $67,294,000 after buying an additional 2,053,028 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Akero Therapeutics by 42.2% in the first quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company’s stock valued at $154,589,000 after acquiring an additional 1,815,569 shares in the last quarter. Redmile Group LLC lifted its stake in Akero Therapeutics by 67.5% in the first quarter. Redmile Group LLC now owns 1,858,702 shares of the company’s stock worth $46,951,000 after acquiring an additional 749,226 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Akero Therapeutics by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock worth $92,702,000 after acquiring an additional 584,875 shares in the last quarter.

Akero Therapeutics Company Profile

(Get Free Report)

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.

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