Kennondale Capital Management LLC Makes New $785,000 Investment in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Kennondale Capital Management LLC bought a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,217 shares of the company’s stock, valued at approximately $785,000.

Other institutional investors have also recently made changes to their positions in the company. Summit Financial Wealth Advisors LLC bought a new position in shares of Akero Therapeutics in the 3rd quarter worth approximately $205,000. Victory Capital Management Inc. bought a new position in shares of Akero Therapeutics in the 3rd quarter worth approximately $211,000. AlphaQuest LLC raised its position in shares of Akero Therapeutics by 32,588.0% in the 4th quarter. AlphaQuest LLC now owns 8,172 shares of the company’s stock worth $227,000 after acquiring an additional 8,147 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Akero Therapeutics in the 3rd quarter worth approximately $265,000. Finally, XTX Topco Ltd bought a new position in shares of Akero Therapeutics in the 3rd quarter worth approximately $308,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AKRO. Bank of America raised Akero Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. Canaccord Genuity Group increased their target price on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. HC Wainwright raised their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. UBS Group raised their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $76.29.

Akero Therapeutics Stock Up 1.5 %

Akero Therapeutics stock opened at $44.82 on Tuesday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -11.95 and a beta of -0.19. The stock has a fifty day simple moving average of $42.44 and a two-hundred day simple moving average of $34.02. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). Equities analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Catriona Yale sold 614 shares of Akero Therapeutics stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total transaction of $27,556.32. Following the transaction, the insider now directly owns 95,034 shares in the company, valued at approximately $4,265,125.92. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Richard White sold 676 shares of Akero Therapeutics stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total value of $30,338.88. Following the transaction, the chief financial officer now owns 61,959 shares in the company, valued at $2,780,719.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,135 shares of company stock valued at $11,897,479. Corporate insiders own 7.94% of the company’s stock.

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.