Eastern Bank Takes $100,000 Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Eastern Bank acquired a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 3,500 shares of the company’s stock, valued at approximately $100,000.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Akero Therapeutics by 2,366.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $31,000 after purchasing an additional 1,183 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Akero Therapeutics by 253.5% in the 1st quarter. Headlands Technologies LLC now owns 4,217 shares of the company’s stock worth $107,000 after purchasing an additional 3,024 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Akero Therapeutics by 20.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock worth $156,000 after purchasing an additional 1,030 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Akero Therapeutics in the 1st quarter worth approximately $211,000. Finally, Quattro Financial Advisors LLC lifted its holdings in Akero Therapeutics by 43,378.3% in the 1st quarter. Quattro Financial Advisors LLC now owns 10,000 shares of the company’s stock worth $253,000 after purchasing an additional 9,977 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Akero Therapeutics Stock Performance

NASDAQ:AKRO opened at $29.33 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.89 and a quick ratio of 24.89. Akero Therapeutics, Inc. has a 1 year low of $11.25 and a 1 year high of $37.00. The stock’s 50 day simple moving average is $27.78 and its two-hundred day simple moving average is $24.41. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -9.17 and a beta of -0.25.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.09. As a group, equities analysts anticipate that Akero Therapeutics, Inc. will post -3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO William Richard White sold 75,159 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the transaction, the chief financial officer now owns 41,791 shares of the company’s stock, valued at approximately $1,137,133.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO William Richard White sold 75,159 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the transaction, the chief financial officer now owns 41,791 shares of the company’s stock, valued at approximately $1,137,133.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 63,539 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $31.53, for a total value of $2,003,384.67. Following the transaction, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,088,798.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,315 shares of company stock valued at $7,440,170 in the last quarter. 7.94% of the stock is currently owned by insiders.

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.