Bank of America Corp DE Has $1.84 Million Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Bank of America Corp DE cut its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 58.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,264 shares of the company’s stock after selling 93,294 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Akero Therapeutics worth $1,843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. abrdn plc increased its stake in shares of Akero Therapeutics by 118.7% in the fourth quarter. abrdn plc now owns 269,782 shares of the company’s stock valued at $7,505,000 after buying an additional 146,424 shares in the last quarter. Rock Springs Capital Management LP increased its stake in shares of Akero Therapeutics by 1.4% in the fourth quarter. Rock Springs Capital Management LP now owns 946,499 shares of the company’s stock valued at $26,332,000 after buying an additional 13,100 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Akero Therapeutics in the fourth quarter valued at $303,000. Charles Schwab Investment Management Inc. increased its stake in shares of Akero Therapeutics by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock valued at $15,042,000 after buying an additional 8,096 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Akero Therapeutics by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 61,867 shares of the company’s stock valued at $1,721,000 after buying an additional 7,587 shares in the last quarter.

Insiders Place Their Bets

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $35.23, for a total transaction of $1,056,900.00. Following the transaction, the chief executive officer now owns 624,324 shares in the company, valued at approximately $21,994,934.52. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patrick Lamy sold 4,000 shares of Akero Therapeutics stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $50.00, for a total value of $200,000.00. Following the transaction, the vice president now owns 33,492 shares in the company, valued at $1,674,600. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,708 shares of company stock worth $6,465,579. Insiders own 7.94% of the company’s stock.

Akero Therapeutics Price Performance

Shares of AKRO opened at $51.61 on Wednesday. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The stock has a market cap of $4.11 billion, a P/E ratio of -13.76 and a beta of -0.12. The stock’s 50-day moving average price is $41.52 and its two-hundred day moving average price is $39.09.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $1.91. On average, equities analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. HC Wainwright raised their target price on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Bank of America lifted their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Finally, Citigroup lowered their price objective on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Akero Therapeutics presently has an average rating of “Buy” and a consensus target price of $82.50.

Akero Therapeutics 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.