Akero Therapeutics (NASDAQ:AKRO) Shares Down 6.3% – Should You Sell?

Akero Therapeutics, Inc. (NASDAQ:AKRO) dropped 6.3% during trading on Wednesday . The company traded as low as $43.16 and last traded at $42.38. Approximately 56,274 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 804,962 shares. The stock had previously closed at $45.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AKRO shares. Citigroup increased their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. UBS Group raised their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Canaccord Genuity Group boosted 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. Finally, Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $76.29.

Akero Therapeutics Trading Up 0.7 %

The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -11.62 and a beta of -0.19. The business has a fifty day moving average of $45.66 and a two-hundred day moving average of $34.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01). As a group, equities analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Akero Therapeutics

In other news, VP Patrick Lamy sold 5,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the vice president now directly owns 33,492 shares of the company’s stock, valued at $1,910,048.76. The trade was a 12.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $54.90, for a total value of $1,647,000.00. Following the sale, the chief executive officer now directly owns 716,062 shares in the company, valued at approximately $39,311,803.80. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 341,309 shares of company stock worth $15,863,578 and sold 252,135 shares worth $12,345,079. 7.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akero Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in Akero Therapeutics during the third quarter worth approximately $211,000. Intech Investment Management LLC purchased a new position in shares of Akero Therapeutics during the 3rd quarter worth $491,000. Algert Global LLC boosted its holdings in shares of Akero Therapeutics by 8.3% during the third quarter. Algert Global LLC now owns 68,052 shares of the company’s stock worth $1,952,000 after purchasing an additional 5,191 shares during the last quarter. FMR LLC boosted its holdings in shares of Akero Therapeutics by 732.1% during the third quarter. FMR LLC now owns 30,337 shares of the company’s stock worth $870,000 after purchasing an additional 26,691 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in shares of Akero Therapeutics by 117.8% in the third quarter. Fred Alger Management LLC now owns 269,601 shares of the company’s stock valued at $7,735,000 after purchasing an additional 145,813 shares during the period.

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.