Corient Private Wealth LLC Takes $3.93 Million Position in Akero Therapeutics, Inc. $AKRO

Corient Private Wealth LLC acquired a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,553 shares of the company’s stock, valued at approximately $3,925,000. Corient Private Wealth LLC owned 0.09% of Akero Therapeutics at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Invesco Ltd. raised its stake in Akero Therapeutics by 18.9% during the 1st quarter. Invesco Ltd. now owns 117,121 shares of the company’s stock worth $4,741,000 after buying an additional 18,658 shares during the period. HighTower Advisors LLC bought a new stake in shares of Akero Therapeutics during the first quarter valued at approximately $292,000. Northern Trust Corp increased its holdings in shares of Akero Therapeutics by 5.9% during the first quarter. Northern Trust Corp now owns 656,733 shares of the company’s stock valued at $26,585,000 after acquiring an additional 36,412 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Akero Therapeutics by 9.7% during the first quarter. Hsbc Holdings PLC now owns 8,647 shares of the company’s stock worth $343,000 after purchasing an additional 761 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Akero Therapeutics by 11.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,817,091 shares of the company’s stock worth $194,997,000 after purchasing an additional 495,119 shares in the last quarter.

Insider Buying and Selling at Akero Therapeutics

In related news, COO Jonathan Young sold 12,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $47.76, for a total transaction of $597,000.00. Following the completion of the transaction, the chief operating officer owned 196,898 shares in the company, valued at approximately $9,403,848.48. This represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Rolph sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $46.08, for a total transaction of $576,000.00. Following the sale, the insider owned 166,571 shares of the company’s stock, valued at $7,675,591.68. This trade represents a 6.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,000 shares of company stock worth $2,792,400 in the last quarter. 7.07% of the stock is currently owned by company insiders.

Akero Therapeutics Stock Performance

NASDAQ:AKRO opened at $54.65 on Monday. Akero Therapeutics, Inc. has a 52 week low of $21.34 and a 52 week high of $58.40. The firm has a 50-day moving average price of $54.23 and a two-hundred day moving average price of $51.26. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of -28.17 and a beta of -0.40.

Akero Therapeutics (NASDAQ:AKRO) last released its earnings results on Friday, November 7th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.05). As a group, sell-side analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AKRO shares. TD Cowen downgraded shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Wolfe Research downgraded shares of Akero Therapeutics from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research report on Wednesday, December 10th. Jefferies Financial Group downgraded Akero Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $56.00 in a research note on Thursday, October 9th. Finally, HC Wainwright reissued a “neutral” rating and set a $54.00 price objective (down from $72.00) on shares of Akero Therapeutics in a report on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.38.

About Akero Therapeutics

Akero Therapeutics, Inc is a clinical-stage biotechnology company focused on developing novel therapies for severe metabolic diseases, with an initial emphasis on nonalcoholic steatohepatitis (NASH). The company’s research platform leverages engineered versions of endocrine hormones to target key pathways involved in lipid metabolism, glucose regulation and tissue fibrosis. By harnessing the biology of fibroblast growth factor 21 (FGF21), Akero aims to address underlying drivers of metabolic dysfunction rather than merely treating symptoms.

The company’s lead product candidate, efruxifermin, is an Fc-FGF21 fusion protein designed to improve liver health and metabolic parameters in patients with NASH.