Akero Therapeutics (NASDAQ:AKRO) Stock Price Up 3.5% – Here’s What Happened

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s share price was up 3.5% during trading on Tuesday . The company traded as high as $30.38 and last traded at $30.24. Approximately 37,616 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 839,792 shares. The stock had previously closed at $29.23.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AKRO shares. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a research report on Monday, November 18th. 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.83.

Akero Therapeutics Trading Down 6.2 %

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 has a market capitalization of $2.00 billion, a P/E ratio of -7.66 and a beta of -0.23. The firm’s 50-day simple moving average is $30.91 and its 200-day simple moving average is $27.36.

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

Insider Buying and Selling

In other Akero Therapeutics news, CFO William Richard White sold 2,817 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total transaction of $86,735.43. Following the completion of the sale, the chief financial officer now directly owns 38,335 shares of the company’s stock, valued at approximately $1,180,334.65. This represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Cheng sold 24,992 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.14, for a total value 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 approximately $18,852,685.38. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 402,302 shares of company stock valued at $12,548,475 over the last ninety days. Company insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after buying an additional 446 shares in the last quarter. Eastern Bank bought a new stake in Akero Therapeutics during the third quarter valued at about $100,000. Summit Financial Wealth Advisors LLC bought a new position in shares of Akero Therapeutics in the third quarter worth about $205,000. Victory Capital Management Inc. bought a new stake in Akero Therapeutics during the 3rd quarter valued at approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Akero Therapeutics during the 3rd quarter valued at approximately $265,000.

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.