Akero Therapeutics (NASDAQ:AKRO) Stock Price Up 13.7% – Still a Buy?

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s share price rose 13.7% during mid-day trading on Tuesday . The stock traded as high as $38.82 and last traded at $43.37. Approximately 149,829 shares changed hands during trading, a decline of 84% from the average daily volume of 913,371 shares. The stock had previously closed at $38.14.

Wall Street Analyst Weigh In

AKRO has been the subject of several recent research reports. HC Wainwright boosted their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 3rd. UBS Group raised their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. Canaccord Genuity Group raised their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Citigroup cut their price objective 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. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $82.33.

Akero Therapeutics Price Performance

The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.75 billion, a PE ratio of -12.63 and a beta of -0.12. The stock has a 50 day moving average price of $40.70 and a two-hundred day moving average price of $37.92.

Akero Therapeutics (NASDAQ:AKRO) last released its earnings results on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $1.91. As a group, equities analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Andrew Cheng sold 30,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $41.48, for a total value of $1,244,400.00. Following the sale, the chief executive officer now owns 594,324 shares in the company, valued at $24,652,559.52. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Catriona Yale sold 10,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $39.30, for a total transaction of $393,000.00. Following the completion of the transaction, the insider now owns 95,034 shares of the company’s stock, valued at approximately $3,734,836.20. This represents a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,208 shares of company stock valued at $9,113,294. 7.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors have recently modified their holdings of the business. Barclays PLC grew its holdings in Akero Therapeutics by 127.9% in the third quarter. Barclays PLC now owns 127,668 shares of the company’s stock valued at $3,662,000 after purchasing an additional 71,652 shares during the period. SG Americas Securities LLC increased its holdings in Akero Therapeutics by 4,022.1% in the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after acquiring an additional 583,486 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Akero Therapeutics by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock worth $412,000 after acquiring an additional 1,446 shares during the period. abrdn plc lifted its holdings in Akero Therapeutics by 118.7% during the fourth quarter. abrdn plc now owns 269,782 shares of the company’s stock valued at $7,505,000 after purchasing an additional 146,424 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Akero Therapeutics by 1.3% during the fourth quarter. Rhumbline Advisers now owns 105,686 shares of the company’s stock valued at $2,940,000 after purchasing an additional 1,310 shares in the last quarter.

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.