Insider Selling: Akero Therapeutics, Inc. (NASDAQ:AKRO) VP Sells 8,000 Shares of Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) VP Patrick Lamy sold 8,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $42.49, for a total transaction of $339,920.00. Following the completion of the transaction, the vice president now directly owns 33,492 shares in the company, valued at $1,423,075.08. This trade represents a 19.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Patrick Lamy also recently made the following trade(s):

• On Monday, March 3rd, Patrick Lamy sold 1,000 shares of Akero Therapeutics stock. The shares were sold at an average price of $48.09, for a total transaction of $48,090.00.

Akero Therapeutics Price Performance

AKRO stock opened at $39.85 on Friday. The firm has a 50 day moving average of $41.21 and a 200-day moving average of $37.50. The firm has a market capitalization of $3.18 billion, a P/E ratio of -10.63 and a beta of -0.12. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly 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). As a group, sell-side analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. abrdn plc boosted its position in shares of Akero Therapeutics by 118.7% during the 4th quarter. abrdn plc now owns 269,782 shares of the company’s stock valued at $7,505,000 after acquiring an additional 146,424 shares during the last quarter. Rock Springs Capital Management LP lifted its position in Akero Therapeutics by 1.4% during the fourth quarter. Rock Springs Capital Management LP now owns 946,499 shares of the company’s stock valued at $26,332,000 after purchasing an additional 13,100 shares during the last quarter. Sei Investments Co. purchased a new position in Akero Therapeutics in the 4th quarter worth approximately $303,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Akero Therapeutics by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock worth $15,042,000 after buying an additional 8,096 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Akero Therapeutics by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 61,867 shares of the company’s stock valued at $1,721,000 after buying an additional 7,587 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AKRO. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Bank of America upgraded Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Canaccord Genuity Group upped their price target on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. UBS Group lifted their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, HC Wainwright upped their price objective 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. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Akero Therapeutics currently has a consensus rating of “Buy” and an average target price of $76.29.

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.