State Street Corp Trims Stock Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

State Street Corp decreased its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 6.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,502,946 shares of the company’s stock after selling 186,480 shares during the quarter. State Street Corp’s holdings in Akero Therapeutics were worth $71,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Simplify Asset Management Inc. boosted its position in Akero Therapeutics by 15.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock worth $8,141,000 after purchasing an additional 38,279 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in Akero Therapeutics by 8.1% during the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock worth $35,188,000 after buying an additional 112,426 shares in the last quarter. Bank of New York Mellon Corp grew its position in Akero Therapeutics by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock valued at $5,894,000 after buying an additional 61,988 shares during the period. Propel Bio Management LLC increased its holdings in Akero Therapeutics by 4.9% in the third quarter. Propel Bio Management LLC now owns 343,729 shares of the company’s stock valued at $9,862,000 after buying an additional 15,977 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Akero Therapeutics by 26.1% in the second quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company’s stock worth $2,514,000 after acquiring an additional 22,195 shares during the period.

Insider Buying and Selling

In related news, insider Timothy Rolph sold 4,818 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.91, for a total transaction of $148,924.38. Following the transaction, the insider now owns 178,337 shares in the company, valued at approximately $5,512,396.67. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Patrick Lamy sold 925 shares of Akero Therapeutics stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the transaction, the vice president now owns 17,858 shares in the company, valued at approximately $549,847.82. This represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,228 shares of company stock worth $12,255,200. 7.94% of the stock is owned by insiders.

Analyst Ratings Changes

AKRO has been the subject of several recent analyst reports. Citigroup initiated coverage on Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Akero Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $46.83.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO opened at $30.61 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. Akero Therapeutics, Inc. has a 1 year low of $15.32 and a 1 year high of $37.00. The firm has a market capitalization of $2.14 billion, a PE ratio of -8.16 and a beta of -0.23. The business’s 50 day moving average price is $30.91 and its 200-day moving average price is $27.35.

Akero Therapeutics (NASDAQ:AKRO) last announced its 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). As a group, equities research analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

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.