Teacher Retirement System of Texas Sells 1,266 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Teacher Retirement System of Texas trimmed its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 8.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 13,149 shares of the company’s stock after selling 1,266 shares during the quarter. Teacher Retirement System of Texas’ holdings in Akero Therapeutics were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Amalgamated Bank increased its stake in Akero Therapeutics by 19.0% in the first quarter. Amalgamated Bank now owns 2,570 shares of the company’s stock valued at $104,000 after acquiring an additional 410 shares during the last quarter. KBC Group NV bought a new position in Akero Therapeutics in the first quarter valued at about $120,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Akero Therapeutics by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company’s stock worth $114,000 after acquiring an additional 338 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Akero Therapeutics during the 1st quarter valued at approximately $297,000. Finally, SG Americas Securities LLC increased its position in Akero Therapeutics by 93.3% during the 1st quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company’s stock worth $46,786,000 after purchasing an additional 557,794 shares in the last quarter.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $51.16, for a total transaction of $1,534,800.00. Following the transaction, the chief executive officer directly owned 520,757 shares of the company’s stock, valued at $26,641,928.12. The trade was a 5.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy Rolph sold 12,500 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $51.09, for a total transaction of $638,625.00. Following the completion of the sale, the insider owned 167,124 shares of the company’s stock, valued at approximately $8,538,365.16. This represents a 6.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,156 shares of company stock valued at $11,589,728. Company insiders own 7.07% of the company’s stock.

Analyst Ratings Changes

AKRO has been the subject of a number of research reports. Bank of America increased their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Citigroup cut their target price on shares of Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics currently has an average rating of “Buy” and a consensus price target of $82.50.

Akero Therapeutics Trading Up 3.6%

Shares of AKRO stock opened at $53.60 on Thursday. Akero Therapeutics, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.80 and a current ratio of 16.80. The stock has a 50 day simple moving average of $50.16 and a two-hundred day simple moving average of $44.00. The company has a market cap of $4.27 billion, a P/E ratio of -27.49 and a beta of -0.15.

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

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.