By otakuyassine3@gmail.com 
Geode Capital Management LLC reduced its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO – Free Report) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,559,631 shares of the company’s stock after selling 11,381 shares during the quarter. Geode Capital Management LLC’s holdings in Akero Therapeutics were worth $43,399,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. abrdn plc increased its stake in Akero Therapeutics by 118.7% during the fourth quarter. abrdn plc now owns 269,782 shares of the company’s stock valued at $7,505,000 after purchasing an additional 146,424 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Akero Therapeutics by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock valued at $15,042,000 after buying an additional 8,096 shares during the last quarter. FMR LLC grew its position in shares of Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock valued at $870,000 after buying an additional 26,691 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Akero Therapeutics during the fourth quarter worth about $320,000. Finally, SG Americas Securities LLC lifted its holdings in Akero Therapeutics by 4,022.1% in the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after acquiring an additional 583,486 shares during the last quarter.
Analyst Ratings Changes
Several research firms have recently commented on AKRO. Citigroup increased their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. UBS Group increased their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Canaccord Genuity Group raised their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. HC Wainwright increased their price objective on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $76.29.
Read Our Latest Stock Report on AKRO
Insider Activity at Akero Therapeutics
In other news, CFO William Richard White sold 676 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total transaction of $30,338.88. Following the completion of the sale, the chief financial officer now directly owns 61,959 shares of the company’s stock, valued at $2,780,719.92. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $35.23, for a total value of $1,056,900.00. Following the completion of the transaction, the chief executive officer now owns 624,324 shares in the company, valued at $21,994,934.52. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 341,309 shares of company stock valued at $15,863,578 and sold 278,385 shares valued at $13,345,929. Company insiders own 7.94% of the company’s stock.
Akero Therapeutics Trading Up 5.4 %
Shares of NASDAQ:AKRO opened at $37.60 on Tuesday. Akero Therapeutics, Inc. has a twelve month low of $17.86 and a twelve 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. The firm has a market cap of $2.99 billion, a P/E ratio of -10.03 and a beta of -0.18. The company has a 50 day moving average of $44.46 and a 200-day moving average of $35.98.
Akero Therapeutics (NASDAQ:AKRO – Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). As a group, analysts anticipate that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.
Akero Therapeutics 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.
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