Swiss National Bank Decreases Stock Holdings in Akero Therapeutics, Inc. $AKRO

Swiss National Bank decreased its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,700 shares of the company’s stock after selling 900 shares during the period. Swiss National Bank owned about 0.12% of Akero Therapeutics worth $3,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in shares of Akero Therapeutics during the 4th quarter valued at approximately $41,000. PNC Financial Services Group Inc. lifted its position in shares of Akero Therapeutics by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company’s stock valued at $67,000 after buying an additional 390 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Akero Therapeutics by 764.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock valued at $50,000 after buying an additional 1,582 shares in the last quarter. Amalgamated Bank lifted its position in shares of Akero Therapeutics by 19.0% during the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company’s stock valued at $104,000 after buying an additional 410 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company’s stock valued at $114,000 after buying an additional 338 shares in the last quarter.

Insiders Place Their Bets

In other Akero Therapeutics news, VP Patrick Lamy sold 2,000 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $52.88, for a total value of $105,760.00. Following the completion of the sale, the vice president directly owned 29,891 shares of the company’s stock, valued at $1,580,636.08. This trade represents a 6.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jonathan Young sold 12,500 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $47.79, for a total value of $597,375.00. Following the completion of the sale, the chief operating officer directly owned 197,484 shares of the company’s stock, valued at $9,437,760.36. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,406 shares of company stock worth $11,813,920. 7.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Akero Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Bank of America increased their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Cowen started coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a “buy” rating for the company. Citigroup reduced their price objective on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, TD Cowen started coverage on Akero Therapeutics in a research note on Monday, August 4th. They issued a “buy” rating and a $76.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $81.57.

Akero Therapeutics Stock Up 0.7%

NASDAQ AKRO opened at $47.95 on Thursday. The business has a fifty day moving average price of $51.59 and a 200 day moving average price of $47.19. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.66 and a current ratio of 12.66. The company has a market cap of $3.84 billion, a P/E ratio of -23.98 and a beta of -0.28.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.11. During the same period last year, the company earned ($0.81) earnings per share. Research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal 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.