Insider Buying: Akero Therapeutics, Inc. (NASDAQ:AKRO) Director Acquires 91,309 Shares of Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) Director G. Walmsley Graham acquired 91,309 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was acquired at an average price of $44.75 per share, for a total transaction of $4,086,077.75. Following the acquisition, the director now owns 1,091,309 shares of the company’s stock, valued at approximately $48,836,077.75. This trade represents a 9.13 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

G. Walmsley Graham also recently made the following trade(s):

• On Thursday, March 27th, G. Walmsley Graham bought 50,000 shares of Akero Therapeutics stock. The stock was acquired at an average cost of $43.55 per share, with a total value of $2,177,500.00.
• On Thursday, January 30th, G. Walmsley Graham bought 200,000 shares of Akero Therapeutics stock. The shares were bought at an average price of $48.00 per share, with a total value of $9,600,000.00.

Akero Therapeutics Price Performance

NASDAQ:AKRO opened at $43.58 on Friday. The company has a 50 day moving average price of $45.66 and a 200-day moving average price of $34.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. Akero Therapeutics, Inc. has a 1-year low of $17.86 and a 1-year high of $58.40. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -11.62 and a beta of -0.19.

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

Analyst Upgrades and Downgrades

AKRO has been the topic of a number of recent research reports. HC Wainwright raised their target price on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Citigroup increased their target price on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Canaccord Genuity Group lifted their price target on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.29.

Hedge Funds Weigh In On Akero Therapeutics

A number of institutional investors have recently added to or reduced their stakes in AKRO. GF Fund Management CO. LTD. acquired a new stake in shares of Akero Therapeutics in the 4th quarter worth $41,000. Sterling Capital Management LLC increased its position in Akero Therapeutics by 764.3% during the fourth 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 purchased a new position in Akero Therapeutics during the fourth quarter worth about $83,000. Summit Investment Advisors Inc. boosted 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 purchasing an additional 450 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Akero Therapeutics in the 3rd quarter valued at approximately $211,000.

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.