Akero Therapeutics (NASDAQ:AKRO) Trading Up 5.5% – Here’s What Happened

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s share price rose 5.5% during mid-day trading on Wednesday . The stock traded as high as $46.24 and last traded at $46.22. Approximately 154,140 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 842,741 shares. The stock had previously closed at $43.82.

Analyst Ratings Changes

Several research firms have weighed in on AKRO. Bank of America raised 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. UBS Group boosted their price objective on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, January 31st. 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 research note on Monday, March 3rd. Citigroup lifted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group upped their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $76.29.

Akero Therapeutics Price Performance

The company’s 50-day simple moving average is $41.78 and its 200 day simple moving average is $33.67. The company has a market capitalization of $3.57 billion, a P/E ratio of -11.96 and a beta of -0.19. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

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

Insider Activity

In other news, insider Timothy Rolph sold 12,500 shares of Akero Therapeutics stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $44.53, for a total value of $556,625.00. Following the transaction, the insider now owns 170,237 shares of the company’s stock, valued at $7,580,653.61. This trade represents a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the sale, the chief executive officer now directly owns 716,062 shares of the company’s stock, valued at approximately $39,311,803.80. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 248,574 shares of company stock valued at $12,027,614. Insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Akero Therapeutics in the fourth quarter valued at about $41,000. Sterling Capital Management LLC lifted its position in shares of Akero Therapeutics by 764.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock worth $50,000 after purchasing an additional 1,582 shares during the last quarter. Quarry LP bought a new stake in Akero Therapeutics during the 4th quarter valued at approximately $83,000. Summit Investment Advisors Inc. grew its holdings in Akero Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock valued at $197,000 after buying an additional 450 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC bought a new position in Akero Therapeutics in the 3rd quarter worth approximately $205,000.

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.