Yiheng Capital Management L.P. Decreases Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Yiheng Capital Management L.P. lessened its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 12.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 666,145 shares of the company’s stock after selling 92,624 shares during the period. Akero Therapeutics comprises approximately 0.7% of Yiheng Capital Management L.P.’s portfolio, making the stock its 8th biggest holding. Yiheng Capital Management L.P.’s holdings in Akero Therapeutics were worth $18,532,000 at the end of the most recent reporting period.

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

Akero Therapeutics Stock Down 0.3 %

Shares of AKRO opened at $44.66 on Friday. The stock’s 50-day moving average price is $43.53 and its two-hundred day moving average price is $34.28. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40. The company has a market capitalization of $3.56 billion, a PE ratio of -11.91 and a beta of -0.19. 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 announced its earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.01). On average, analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Insider Buying and Selling

In other news, insider Catriona Yale sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $44.76, for a total value of $447,600.00. Following the completion of the sale, the insider now directly owns 95,034 shares in the company, valued at $4,253,721.84. This trade represents a 9.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.77, for a total value of $1,253,100.00. Following the completion of the sale, the chief executive officer now directly owns 656,062 shares of the company’s stock, valued at $27,403,709.74. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,135 shares of company stock valued at $12,345,079 over the last 90 days. Company insiders own 7.94% of the company’s stock.

Analyst Ratings Changes

AKRO has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. UBS Group raised their target price 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. Bank of America raised shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Canaccord Genuity Group raised their price objective on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Citigroup upped their target price on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.29.

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.