Algert Global LLC Buys 5,191 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Algert Global LLC boosted its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 8.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,052 shares of the company’s stock after purchasing an additional 5,191 shares during the quarter. Algert Global LLC’s holdings in Akero Therapeutics were worth $1,952,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AKRO. Vanguard Group Inc. grew its holdings in Akero Therapeutics by 19.0% in the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock worth $92,702,000 after purchasing an additional 584,875 shares during the last quarter. Long Focus Capital Management LLC grew its stake in Akero Therapeutics by 119.0% during the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock worth $16,882,000 after buying an additional 391,000 shares during the last quarter. Perceptive Advisors LLC grew its stake in Akero Therapeutics by 8.1% during the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock worth $35,188,000 after buying an additional 112,426 shares during the last quarter. Bank of New York Mellon Corp increased its position in Akero Therapeutics by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock valued at $5,894,000 after buying an additional 61,988 shares in the last quarter. Finally, Rheos Capital Works Inc. raised its stake in Akero Therapeutics by 27.8% in the third quarter. Rheos Capital Works Inc. now owns 276,000 shares of the company’s stock valued at $7,918,000 after buying an additional 60,000 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AKRO. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup began coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They set a “buy” rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.83.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total value of $45,500.84. Following the completion of the transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at approximately $15,849,817.06. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Young sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $28.18, for a total transaction of $281,800.00. Following the sale, the chief operating officer now directly owns 226,286 shares in the company, valued at approximately $6,376,739.48. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 348,248 shares of company stock worth $10,817,436. 7.94% of the stock is owned by corporate insiders.

Akero Therapeutics Trading Up 3.2 %

Shares of Akero Therapeutics stock opened at $32.17 on Thursday. Akero Therapeutics, Inc. has a 1 year low of $15.32 and a 1 year high of $37.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The stock has a market cap of $2.25 billion, a PE ratio of -8.58 and a beta of -0.26. The firm has a fifty day moving average price of $30.25 and a 200 day moving average price of $26.22.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Equities research analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current year.

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.