State Street Corp Lowers Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

State Street Corp trimmed its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,502,946 shares of the company’s stock after selling 186,480 shares during the period. State Street Corp owned about 3.59% of Akero Therapeutics worth $71,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in Akero Therapeutics by 191.2% during the second quarter. SG Americas Securities LLC now owns 14,517 shares of the company’s stock valued at $341,000 after buying an additional 9,532 shares during the period. Bank of New York Mellon Corp raised its position in shares of Akero Therapeutics by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock worth $5,894,000 after acquiring an additional 61,988 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Akero Therapeutics by 30.3% during the 2nd quarter. Rhumbline Advisers now owns 107,338 shares of the company’s stock worth $2,518,000 after purchasing an additional 24,940 shares during the last quarter. TD Asset Management Inc boosted its position in Akero Therapeutics by 23.7% during the second quarter. TD Asset Management Inc now owns 154,592 shares of the company’s stock valued at $3,627,000 after purchasing an additional 29,600 shares in the last quarter. Finally, Quest Partners LLC grew its stake in Akero Therapeutics by 22,021.1% in the second quarter. Quest Partners LLC now owns 12,609 shares of the company’s stock valued at $296,000 after purchasing an additional 12,552 shares during the last quarter.

Analysts Set New Price Targets

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

Akero Therapeutics Stock Performance

AKRO opened at $30.61 on Wednesday. The company has a market cap of $2.14 billion, a P/E ratio of -8.16 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 price is $30.91 and its 200-day moving average price is $27.35. Akero Therapeutics, Inc. has a 52-week low of $15.32 and a 52-week high of $37.00.

Akero Therapeutics (NASDAQ:AKRO) last released its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). As a group, equities analysts anticipate that Akero Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Insider Activity at Akero Therapeutics

In related news, CEO Andrew Cheng sold 24,992 shares of Akero Therapeutics stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.14, for a total transaction of $778,250.88. Following the completion of the sale, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $18,852,685.38. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Catriona Yale sold 15,485 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $32.62, for a total transaction of $505,120.70. Following the completion of the transaction, the insider now owns 74,158 shares in the company, valued at approximately $2,419,033.96. This trade represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 392,228 shares of company stock valued at $12,255,200 in the last ninety days. Company insiders own 7.94% of the company’s stock.

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.