Akero Therapeutics, Inc. $AKRO Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 32.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 17,000 shares of the company’s stock after buying an additional 4,200 shares during the quarter. Allianz Asset Management GmbH’s holdings in Akero Therapeutics were worth $907,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new position in Akero Therapeutics in the 2nd quarter valued at $248,000. KLP Kapitalforvaltning AS increased its stake in Akero Therapeutics by 22.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,800 shares of the company’s stock valued at $630,000 after buying an additional 2,200 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Akero Therapeutics by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,079 shares of the company’s stock worth $164,000 after acquiring an additional 415 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Akero Therapeutics in the second quarter worth $203,000. Finally, Palumbo Wealth Management LLC acquired a new position in shares of Akero Therapeutics during the 2nd quarter worth $262,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Akero Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Canaccord Genuity Group cut shares of Akero Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $73.00 to $54.00 in a research note on Thursday, October 9th. Zacks Research cut shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Jefferies Financial Group cut shares of Akero Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $75.00 to $56.00 in a research note on Thursday, October 9th. Finally, Lifesci Capital cut shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Akero Therapeutics presently has an average rating of “Hold” and an average price target of $73.38.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $53.77 on Monday. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $4.30 billion, a PE ratio of -26.89 and a beta of -0.29. Akero Therapeutics, Inc. has a 52 week low of $21.34 and a 52 week high of $58.40. The firm’s 50-day simple moving average is $47.98 and its 200 day simple moving average is $47.91.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.11. During the same period last year, the business posted ($0.81) EPS. On average, equities research analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, COO Jonathan Young sold 12,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $46.08, for a total value of $576,000.00. Following the transaction, the chief operating officer directly owned 197,484 shares in the company, valued at approximately $9,100,062.72. This represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy Rolph sold 12,500 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $44.17, for a total transaction of $552,125.00. Following the completion of the transaction, the insider owned 167,124 shares in the company, valued at approximately $7,381,867.08. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,253 shares of company stock worth $8,072,314. Corporate insiders own 7.07% of the company’s stock.

Akero Therapeutics Company 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.