Northern Trust Corp Has $26.59 Million Stock Holdings in Akero Therapeutics, Inc. $AKRO

Northern Trust Corp lifted its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 656,733 shares of the company’s stock after acquiring an additional 36,412 shares during the quarter. Northern Trust Corp owned approximately 0.82% of Akero Therapeutics worth $26,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AKRO. RTW Investments LP increased its stake in shares of Akero Therapeutics by 15.9% in the fourth quarter. RTW Investments LP now owns 6,859,823 shares of the company’s stock worth $190,840,000 after acquiring an additional 940,388 shares during the last quarter. Deep Track Capital LP increased 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 worth $41,452,000 after buying an additional 800,216 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Akero Therapeutics during the fourth quarter worth $18,059,000. SG Americas Securities LLC increased its position in Akero Therapeutics by 93.3% during the first quarter. SG Americas Securities LLC now owns 1,155,787 shares of the company’s stock worth $46,786,000 after buying an additional 557,794 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Akero Therapeutics during the first quarter worth $21,333,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on AKRO. Wall Street Zen raised shares of Akero Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Citigroup lowered 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. TD Cowen initiated coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a “buy” rating and a $76.00 price target on the stock. Bank of America lifted their price objective on Akero Therapeutics from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, Cowen assumed coverage on Akero Therapeutics in a report on Monday, August 4th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $81.57.

Akero Therapeutics Stock Down 0.4%

AKRO stock opened at $46.73 on Friday. The business’s 50-day simple moving average is $50.59 and its 200 day simple moving average is $46.87. Akero Therapeutics, Inc. has a twelve month low of $21.34 and a twelve month high of $58.40. The company has a market cap of $3.74 billion, a PE ratio of -23.37 and a beta of -0.28. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same period last year, the business earned ($0.81) EPS. On average, research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Catriona Yale sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $54.23, for a total value of $542,300.00. Following the transaction, the insider directly owned 92,231 shares of the company’s stock, valued at $5,001,687.13. The trade was a 9.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy Rolph sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $55.04, for a total value of $1,376,000.00. Following the completion of the transaction, the insider directly owned 169,721 shares in the company, valued at $9,341,443.84. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,406 shares of company stock valued at $11,813,920. 7.07% of the stock is owned by insiders.

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.