Akero Therapeutics (NASDAQ:AKRO) Stock Price Down 6.3% – Time to Sell?

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s share price dropped 6.3% during mid-day trading on Wednesday . The company traded as low as $43.16 and last traded at $42.38. Approximately 56,274 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 804,962 shares. The stock had previously closed at $45.24.

Analyst Ratings Changes

Several equities analysts recently commented on AKRO shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. HC Wainwright upped their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Citigroup lifted their target price on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Bank of America upgraded Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Finally, UBS Group lifted their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $76.29.

Akero Therapeutics Trading Up 0.7 %

The firm has a market capitalization of $3.47 billion, a PE ratio of -11.62 and a beta of -0.19. The firm has a fifty day moving average of $45.66 and a 200 day moving average of $34.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). Equities research analysts expect that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Insider Activity

In other news, COO Jonathan Young sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total transaction of $280,300.00. Following the completion of the transaction, the chief operating officer now directly owns 218,083 shares in the company, valued at approximately $6,112,866.49. This represents a 4.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Catriona Yale sold 614 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total transaction of $27,556.32. Following the sale, the insider now directly owns 95,034 shares of the company’s stock, valued at $4,265,125.92. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 341,309 shares of company stock worth $15,863,578 and sold 252,135 shares worth $12,345,079. Insiders own 7.94% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Akero Therapeutics by 54.4% during the third quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock valued at $226,554,000 after buying an additional 2,782,029 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Akero Therapeutics by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company’s stock valued at $203,053,000 after acquiring an additional 201,225 shares during the last quarter. RTW Investments LP raised its position in shares of Akero Therapeutics by 15.9% during the 4th quarter. RTW Investments LP now owns 6,859,823 shares of the company’s stock valued at $190,840,000 after acquiring an additional 940,388 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Akero Therapeutics by 13.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company’s stock valued at $120,238,000 after acquiring an additional 513,613 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Akero Therapeutics by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company’s stock worth $103,057,000 after purchasing an additional 27,830 shares during 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.