Bourgeon Capital Management LLC Takes Position in Akero Therapeutics, Inc. $AKRO

Bourgeon Capital Management LLC acquired a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,936 shares of the company’s stock, valued at approximately $472,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Akero Therapeutics during the second quarter worth $28,000. CWM LLC increased its position in Akero Therapeutics by 261.2% during the 3rd quarter. CWM LLC now owns 809 shares of the company’s stock worth $38,000 after purchasing an additional 585 shares in the last quarter. TD Waterhouse Canada Inc. purchased a new stake in Akero Therapeutics during the 2nd quarter worth about $71,000. Assetmark Inc. raised its stake in Akero Therapeutics by 152.9% in the 2nd quarter. Assetmark Inc. now owns 1,439 shares of the company’s stock valued at $77,000 after purchasing an additional 870 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Akero Therapeutics by 17.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,952 shares of the company’s stock valued at $104,000 after purchasing an additional 294 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AKRO. HC Wainwright reissued a “neutral” rating and issued a $54.00 price objective (down previously from $72.00) on shares of Akero Therapeutics in a research report on Friday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Akero Therapeutics in a report on Wednesday, December 10th. Jefferies Financial Group cut Akero Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $56.00 in a report on Thursday, October 9th. TD Cowen lowered Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Canaccord Genuity Group lowered Akero Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $73.00 to $54.00 in a research note on Thursday, October 9th. Six 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.38.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO opened at $54.65 on Friday. Akero Therapeutics, Inc. has a 1 year low of $21.34 and a 1 year high of $58.40. The stock has a market capitalization of $4.50 billion, a P/E ratio of -28.17 and a beta of -0.40. The stock has a 50-day simple moving average of $54.41 and a 200-day simple moving average of $51.32.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.05). Analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Buying and Selling at Akero Therapeutics

In related news, insider Timothy Rolph sold 12,500 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the sale, the insider directly owned 166,571 shares of the company’s stock, valued at approximately $7,675,591.68. This represents a 6.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Cheng sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $53.98, for a total value of $1,619,400.00. Following the completion of the transaction, the chief executive officer directly owned 526,114 shares in the company, valued at $28,399,633.72. This trade represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 7.07% of the company’s stock.

Akero Therapeutics Profile

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.