Akero Therapeutics, Inc. (NASDAQ:AKRO) Stake Lifted by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,686 shares of the company’s stock after purchasing an additional 1,310 shares during the period. Rhumbline Advisers owned 0.15% of Akero Therapeutics worth $2,940,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AKRO. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after purchasing an additional 446 shares during the period. Summit Financial Wealth Advisors LLC bought a new position in Akero Therapeutics during the third quarter valued at about $205,000. Victory Capital Management Inc. acquired a new position in Akero Therapeutics during the third quarter worth about $211,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Akero Therapeutics in the third quarter worth about $265,000. Finally, XTX Topco Ltd bought a new stake in Akero Therapeutics in the third quarter worth about $308,000.

Insiders Place Their Bets

In other Akero Therapeutics news, insider Timothy Rolph sold 18,750 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $56.51, for a total value of $1,059,562.50. Following the transaction, the insider now owns 170,237 shares in the company, valued at approximately $9,620,092.87. This represents a 9.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick Lamy sold 925 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $28,480.75. Following the completion of the sale, the vice president now owns 17,858 shares of the company’s stock, valued at approximately $549,847.82. The trade was a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,992 shares of company stock worth $9,633,413. 7.94% of the stock is currently owned by company insiders.

Akero Therapeutics Trading Up 2.9 %

NASDAQ AKRO opened at $49.12 on Friday. The firm’s 50 day moving average price is $38.92 and its two-hundred day moving average price is $32.57. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -13.10 and a beta of -0.11. Akero Therapeutics, Inc. has a twelve month low of $17.86 and a twelve month high of $58.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). Equities analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Wall Street Analyst Weigh In

AKRO has been the subject of several research reports. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Citigroup increased their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. HC Wainwright raised their price objective on Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Morgan Stanley boosted their target price on Akero Therapeutics from $46.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $75.86.

Akero Therapeutics Company Profile

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.