Short Interest in Akero Therapeutics, Inc. (NASDAQ:AKRO) Increases By 32.0%

Akero Therapeutics, Inc. (NASDAQ:AKRO) was the recipient of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 4,790,000 shares, a growth of 32.0% from the January 31st total of 3,630,000 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is currently 4.1 days.

Akero Therapeutics Stock Performance

Shares of NASDAQ AKRO opened at $45.54 on Tuesday. The company has a market cap of $3.18 billion, a P/E ratio of -12.14 and a beta of -0.11. Akero Therapeutics has a 52-week low of $17.86 and a 52-week high of $58.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The firm’s fifty day moving average is $39.27 and its two-hundred day moving average is $32.78.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.01). As a group, analysts anticipate that Akero Therapeutics will post -3.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup lifted their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Canaccord Genuity Group lifted their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of Akero Therapeutics from $46.00 to $96.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Finally, UBS Group increased their price target on Akero Therapeutics from $42.00 to $109.00 and gave the stock 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 stock currently has an average rating of “Buy” and an average price target of $76.29.

Insider Transactions at Akero Therapeutics

In related news, VP Patrick Lamy sold 925 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the transaction, the vice president now directly owns 17,858 shares of the company’s stock, valued at approximately $549,847.82. This trade represents a 4.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cheng sold 7,855 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total value of $241,855.45. Following the sale, the chief executive officer now directly owns 597,562 shares of the company’s stock, valued at $18,398,933.98. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 173,992 shares of company stock worth $8,509,863 in the last quarter. Company insiders own 7.94% of the company’s stock.

Institutional Trading of Akero Therapeutics

A number of large investors have recently added to or reduced their stakes in AKRO. Creative Planning purchased a new stake in Akero Therapeutics during the third quarter valued at $371,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after buying an additional 446 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Akero Therapeutics during the 3rd quarter valued at about $211,000. Simplify Asset Management Inc. lifted its holdings in shares of Akero Therapeutics by 15.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock valued at $8,141,000 after acquiring an additional 38,279 shares during the last quarter. Finally, LMR Partners LLP grew its position in Akero Therapeutics by 17.0% in the third quarter. LMR Partners LLP now owns 20,597 shares of the company’s stock worth $591,000 after acquiring an additional 2,997 shares in 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.