Akero Therapeutics, Inc. (NASDAQ:AKRO) Sees Significant Drop in Short Interest

Akero Therapeutics, Inc. (NASDAQ:AKRO) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,290,000 shares, a drop of 9.1% from the November 15th total of 3,620,000 shares. Based on an average daily trading volume, of 570,700 shares, the days-to-cover ratio is presently 5.8 days.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup initiated coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.83.

Insider Buying and Selling

In related news, insider Timothy Rolph sold 4,818 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $30.91, for a total transaction of $148,924.38. Following the completion of the transaction, the insider now directly owns 178,337 shares of the company’s stock, valued at $5,512,396.67. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jonathan Young sold 2,503 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $77,067.37. Following the transaction, the chief operating officer now directly owns 203,783 shares of the company’s stock, valued at approximately $6,274,478.57. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 396,099 shares of company stock worth $12,361,885 in the last quarter. 7.94% of the stock is owned by insiders.

Institutional Trading of Akero Therapeutics

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after acquiring an additional 446 shares in the last quarter. Eastern Bank acquired a new stake in shares of Akero Therapeutics in the third quarter valued at $100,000. Summit Financial Wealth Advisors LLC bought a new position in shares of Akero Therapeutics during the 3rd quarter valued at about $205,000. Victory Capital Management Inc. acquired a new stake in Akero Therapeutics during the third quarter valued at approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Akero Therapeutics in the third quarter worth approximately $265,000.

Akero Therapeutics Trading Down 0.5 %

AKRO opened at $28.89 on Monday. Akero Therapeutics has a 52-week low of $15.32 and a 52-week high of $37.00. The firm has a market capitalization of $2.02 billion, a P/E ratio of -7.70 and a beta of -0.23. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $30.81 and its 200-day moving average is $27.19.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Analysts expect that Akero Therapeutics will post -3.96 EPS for the current fiscal year.

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.