535 Shares in Akero Therapeutics, Inc. $AKRO Purchased by FNY Investment Advisers LLC

FNY Investment Advisers LLC purchased a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 535 shares of the company’s stock, valued at approximately $28,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new stake in shares of Akero Therapeutics during the first quarter worth approximately $297,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Akero Therapeutics by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company’s stock worth $114,000 after buying an additional 338 shares in the last quarter. KBC Group NV acquired a new stake in shares of Akero Therapeutics during the first quarter worth approximately $120,000. Amalgamated Bank increased its holdings in shares of Akero Therapeutics by 19.0% during the first quarter. Amalgamated Bank now owns 2,570 shares of the company’s stock worth $104,000 after buying an additional 410 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Akero Therapeutics during the first quarter worth approximately $10,404,000.

Akero Therapeutics Price Performance

AKRO opened at $53.77 on Friday. Akero Therapeutics, Inc. has a one year low of $21.34 and a one year high of $58.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66. The company’s 50 day simple moving average is $47.98 and its 200-day simple moving average is $47.74. The stock has a market capitalization of $4.30 billion, a P/E ratio of -26.89 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.11. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. Sell-side analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In other Akero Therapeutics news, 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 owned 90,829 shares of the company’s stock, valued at approximately $3,907,463.58. The trade was a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Young sold 12,500 shares of Akero Therapeutics stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $47.76, for a total transaction of $597,000.00. Following the sale, the chief operating officer directly owned 196,898 shares of the company’s stock, valued at $9,403,848.48. This represents a 5.97% decrease in their position. 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.

Analyst Upgrades and Downgrades

AKRO has been the subject of several recent analyst reports. Jefferies Financial Group lowered shares of Akero Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $56.00 in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Akero Therapeutics in a report on Friday. Canaccord Genuity Group lowered shares of Akero Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $73.00 to $54.00 in a report on Thursday, October 9th. HC Wainwright reaffirmed a “neutral” rating and set a $54.00 price objective (down previously from $72.00) on shares of Akero Therapeutics in a report on Friday, October 10th. Finally, Wall Street Zen cut shares of Akero Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.38.

Akero Therapeutics 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.