Millennium Management LLC Sells 57,892 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Millennium Management LLC lessened its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 77.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,736 shares of the company’s stock after selling 57,892 shares during the period. Millennium Management LLC’s holdings in Akero Therapeutics were worth $466,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Deep Track Capital LP boosted its position in Akero Therapeutics by 116.0% during the fourth quarter. Deep Track Capital LP now owns 1,490,000 shares of the company’s stock valued at $41,452,000 after purchasing an additional 800,216 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Akero Therapeutics in the fourth quarter valued at about $18,059,000. Price T Rowe Associates Inc. MD boosted its stake in Akero Therapeutics by 13.5% during 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 buying an additional 513,613 shares during the period. Dimensional Fund Advisors LP raised its holdings in Akero Therapeutics by 6,229.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 449,110 shares of the company’s stock valued at $12,495,000 after acquiring an additional 442,014 shares in the last quarter. Finally, Foresite Capital Management VI LLC acquired a new stake in Akero Therapeutics during the fourth quarter worth approximately $10,154,000.

Akero Therapeutics Stock Up 0.8%

Shares of AKRO stock opened at $54.71 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The stock has a fifty day moving average price of $42.56 and a 200 day moving average price of $39.79. Akero Therapeutics, Inc. has a one year low of $21.02 and a one year high of $58.40. The stock has a market cap of $4.36 billion, a P/E ratio of -14.59 and a beta of -0.16.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of ($1.01) by $1.91. Analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Activity at Akero Therapeutics

In related news, VP Patrick Lamy sold 8,000 shares of Akero Therapeutics stock in a transaction that occurred 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 directly owns 33,492 shares of the company’s stock, valued at $1,423,075.08. The trade was a 19.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Richard White sold 676 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total value of $30,338.88. Following the completion of the transaction, the chief financial officer now directly owns 61,959 shares in the company, valued at approximately $2,780,719.92. This trade represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,208 shares of company stock worth $7,458,344. Company insiders own 7.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.