Akero Therapeutics (NASDAQ:AKRO) Cut to “Hold” at HC Wainwright

Akero Therapeutics (NASDAQ:AKRO) was downgraded by HC Wainwright from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Marketbeat reports.

Several other equities analysts also recently weighed in on AKRO. Cowen started coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a “buy” rating on the stock. Canaccord Genuity Group downgraded shares of Akero Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $73.00 to $54.00 in a report on Thursday. Wolfe Research reiterated a “peer perform” rating on shares of Akero Therapeutics in a report on Friday. TD Cowen started coverage on shares of Akero Therapeutics in a report on Monday, August 4th. They issued a “buy” rating and a $76.00 price target on the stock. Finally, Wall Street Zen cut shares of Akero Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.38.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $53.88 on Friday. Akero Therapeutics has a 52 week low of $21.34 and a 52 week high of $58.40. The company has a 50 day moving average price of $47.15 and a 200 day moving average price of $46.78. 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 $4.31 billion, a P/E ratio of -26.94 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same quarter last year, the company posted ($0.81) earnings per share. Sell-side analysts expect that Akero Therapeutics will post -3.99 EPS for the current year.

Insider Transactions at Akero Therapeutics

In related news, CFO William Richard White sold 659 shares of Akero Therapeutics stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $43.02, for a total value of $28,350.18. Following the sale, the chief financial officer owned 57,752 shares of the company’s stock, valued at approximately $2,484,491.04. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Catriona Yale sold 659 shares of Akero Therapeutics stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $43.02, for a total transaction of $28,350.18. Following the completion of the sale, the insider directly owned 90,829 shares in the company, valued at $3,907,463.58. This represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 149,253 shares of company stock worth $6,982,414 in the last ninety days. Company insiders own 7.07% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in Akero Therapeutics in the 2nd quarter valued at $28,000. Northwest & Ethical Investments L.P. purchased a new position in Akero Therapeutics in the 1st quarter valued at $32,000. TD Waterhouse Canada Inc. purchased a new position in Akero Therapeutics in the 2nd quarter valued at $71,000. Assetmark Inc. lifted its holdings 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 in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Akero Therapeutics by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company’s stock valued at $67,000 after purchasing an additional 390 shares in the last quarter.

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.