Bank of New York Mellon Corp Purchases 12,235 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Bank of New York Mellon Corp boosted its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,665 shares of the company’s stock after buying an additional 12,235 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.27% of Akero Therapeutics worth $8,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. RTW Investments LP increased its position in shares of Akero Therapeutics by 15.9% during the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company’s stock valued at $190,840,000 after acquiring an additional 940,388 shares during the last quarter. Deep Track Capital LP raised its holdings 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 worth $41,452,000 after purchasing an additional 800,216 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Akero Therapeutics during the fourth quarter worth approximately $18,059,000. SG Americas Securities LLC raised its position in Akero Therapeutics by 93.3% in the 1st quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company’s stock valued at $46,786,000 after purchasing an additional 557,794 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Akero Therapeutics by 13.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company’s stock valued at $120,238,000 after purchasing an additional 513,613 shares during the last quarter.

Akero Therapeutics Trading Down 1.3%

Shares of AKRO stock opened at $51.38 on Tuesday. Akero Therapeutics, Inc. has a 12 month low of $21.34 and a 12 month high of $58.40. The company has a quick ratio of 16.80, a current ratio of 16.80 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $50.63 and its two-hundred day moving average is $44.58. The company has a market cap of $4.10 billion, a PE ratio of -26.35 and a beta of -0.15.

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

Insiders Place Their Bets

In other Akero Therapeutics news, CEO Andrew Cheng sold 37,837 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total transaction of $2,045,089.85. Following the transaction, the chief executive officer owned 556,487 shares in the company, valued at $30,078,122.35. This trade represents a 6.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy Rolph sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 169,721 shares in the company, valued at $9,341,443.84. This trade represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 242,156 shares of company stock valued at $12,119,228 in the last quarter. 7.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

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