Envestnet Asset Management Inc. Buys 3,170 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Envestnet Asset Management Inc. grew its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 31.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,334 shares of the company’s stock after purchasing an additional 3,170 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Akero Therapeutics were worth $540,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. GF Fund Management CO. LTD. lifted its holdings in shares of Akero Therapeutics by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company’s stock valued at $72,000 after purchasing an additional 321 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Akero Therapeutics by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company’s stock valued at $114,000 after acquiring an additional 338 shares during the last quarter. Amalgamated Bank increased its position in shares of Akero Therapeutics by 19.0% during 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. Summit Investment Advisors Inc. increased its position in shares of Akero Therapeutics by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock valued at $197,000 after acquiring an additional 450 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Akero Therapeutics by 8.5% during the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company’s stock valued at $220,000 after acquiring an additional 621 shares during the last quarter.

Insider Transactions at Akero Therapeutics

In related news, insider Timothy Rolph sold 25,000 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $55.04, for a total transaction of $1,376,000.00. Following the transaction, the insider owned 169,721 shares in the company, valued at $9,341,443.84. The trade was a 12.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Catriona Yale sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $39.30, for a total value of $393,000.00. Following the transaction, the insider owned 95,034 shares in the company, valued at approximately $3,734,836.20. This represents a 9.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,406 shares of company stock worth $10,979,995. Company insiders own 7.07% of the company’s stock.

Akero Therapeutics Price Performance

NASDAQ:AKRO opened at $49.56 on Wednesday. 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 fifty day moving average of $52.15 and a 200 day moving average of $46.49. Akero Therapeutics, Inc. has a 52-week low of $21.34 and a 52-week high of $58.40. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -25.42 and a beta of -0.28.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup decreased their price target 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. 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 report on Tuesday, May 27th. Finally, TD Cowen assumed coverage on Akero Therapeutics in a research report on Monday. They issued a “buy” rating and a $76.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Akero Therapeutics has an average rating of “Buy” and a consensus price target of $81.57.

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.