Intech Investment Management LLC Purchases New Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Intech Investment Management LLC acquired a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,107 shares of the company’s stock, valued at approximately $491,000.

Several other hedge funds also recently modified their holdings of AKRO. Russell Investments Group Ltd. increased its holdings in Akero Therapeutics by 2,366.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $31,000 after purchasing an additional 1,183 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 worth $71,000 after purchasing an additional 446 shares in the last quarter. Eastern Bank bought a new stake in shares of Akero Therapeutics during the third quarter worth $100,000. Victory Capital Management Inc. acquired a new stake in shares of Akero Therapeutics in the third quarter valued at $211,000. Finally, Virtu Financial LLC acquired a new stake in shares of Akero Therapeutics in the first quarter valued at $270,000.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AKRO shares. Citigroup started coverage on shares of Akero Therapeutics in a report on Monday, November 18th. They issued a “buy” rating and a $65.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Akero Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $46.83.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, COO Jonathan Young sold 10,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $28.18, for a total transaction 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 approximately $6,376,739.48. This trade represents a 4.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Cheng sold 1,738 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total value of $45,500.84. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $15,849,817.06. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 348,248 shares of company stock worth $10,817,436. Insiders own 7.94% of the company’s stock.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO opened at $32.10 on Monday. Akero Therapeutics, Inc. has a 12-month low of $15.32 and a 12-month high of $37.00. The company’s 50 day moving average price is $30.41 and its two-hundred day moving average price is $26.42. The firm has a market cap of $2.24 billion, a PE ratio of -8.56 and a beta of -0.26. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

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). Equities research analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current year.

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.