Akero Therapeutics (NASDAQ:AKRO) Research Coverage Started at Citigroup

Citigroup started coverage on shares of Akero Therapeutics (NASDAQ:AKRO) in a research report report published on Monday, Marketbeat reports. The firm issued a buy rating and a $65.00 price target on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Akero Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $46.83.

Akero Therapeutics Price Performance

Shares of AKRO opened at $30.64 on Monday. Akero Therapeutics has a fifty-two week low of $15.32 and a fifty-two week high of $37.00. The firm’s 50 day moving average price is $29.73 and its 200 day moving average price is $25.85. 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 company has a market cap of $2.14 billion, a P/E ratio of -8.17 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). On average, research analysts forecast that Akero Therapeutics will post -3.96 earnings per share for the current fiscal year.

Insider Transactions at Akero Therapeutics

In related news, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $28.18, for a total value of $281,800.00. Following the completion of the sale, the chief operating officer now directly owns 226,286 shares in the company, valued at $6,376,739.48. This trade represents a 4.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William Richard White sold 75,159 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $27.21, for a total value of $2,045,076.39. Following the transaction, the chief financial officer now owns 41,791 shares of the company’s stock, valued at $1,137,133.11. The trade was a 64.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 437,458 shares of company stock valued at $13,249,232 over the last three months. 7.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Akero Therapeutics

Several institutional investors have recently bought and sold shares of AKRO. Russell Investments Group Ltd. increased its holdings in shares of Akero Therapeutics by 2,366.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $31,000 after acquiring an additional 1,183 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after purchasing an additional 446 shares during the last quarter. Eastern Bank bought a new position in Akero Therapeutics in the third quarter valued at about $100,000. Ameritas Investment Partners Inc. raised its position in shares of Akero Therapeutics by 20.0% during the first quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock worth $156,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC bought a new position in shares of Akero Therapeutics during the third quarter worth about $205,000.

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.