California State Teachers Retirement System Has $1.30 Million Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

California State Teachers Retirement System lowered its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,835 shares of the company’s stock after selling 373 shares during the quarter. California State Teachers Retirement System owned about 0.06% of Akero Therapeutics worth $1,303,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. RTW Investments LP increased its holdings in Akero Therapeutics by 15.9% in the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company’s stock valued at $190,840,000 after purchasing an additional 940,388 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Akero Therapeutics by 13.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company’s stock worth $120,238,000 after acquiring an additional 513,613 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Akero Therapeutics by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company’s stock worth $103,057,000 after acquiring an additional 27,830 shares in the last quarter. Deep Track Capital LP increased its holdings in shares of Akero Therapeutics by 116.0% in the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company’s stock worth $41,452,000 after acquiring an additional 800,216 shares in the last quarter. Finally, Rock Springs Capital Management LP increased its holdings 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 worth $26,332,000 after acquiring an additional 13,100 shares in the last quarter.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $54.71 on Tuesday. The firm has a market cap of $4.36 billion, a P/E ratio of -14.59 and a beta of -0.16. 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 $21.02 and a 1-year high of $58.40. The business’s 50 day moving average is $42.56 and its 200-day moving average is $39.79.

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

Insiders Place Their Bets

In other news, VP Patrick Lamy sold 8,000 shares of Akero Therapeutics stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $42.49, for a total value of $339,920.00. Following the transaction, the vice president now owns 33,492 shares in the company, valued at approximately $1,423,075.08. This trade represents a 19.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy Rolph sold 25,000 shares of Akero Therapeutics stock in a transaction on Friday, June 6th. The shares were sold at an average price of $55.04, for a total value of $1,376,000.00. Following the completion of the transaction, the insider now owns 169,721 shares in the company, valued at approximately $9,341,443.84. The trade was a 12.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,208 shares of company stock worth $7,458,344 in the last 90 days. Company insiders own 7.07% of the company’s stock.

Analyst Upgrades and Downgrades

AKRO has been the subject of several recent analyst reports. Bank of America increased their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. HC Wainwright increased their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Finally, Citigroup cut 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, Akero Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $82.50.

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.