Akero Therapeutics, Inc. (NASDAQ:AKRO) Given Average Rating of “Hold” by Brokerages

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) have been given an average rating of “Hold” by the fourteen brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $73.3750.

Several research analysts have recently weighed in on AKRO shares. Zacks Research lowered shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. HC Wainwright reissued a “neutral” rating and set a $54.00 price target (down previously from $72.00) on shares of Akero Therapeutics in a research report on Friday, October 10th. Canaccord Genuity Group cut Akero Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the company from $73.00 to $54.00 in a research report on Thursday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Akero Therapeutics in a research note on Wednesday, December 10th. Finally, TD Cowen cut Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th.

Insider Activity

In other news, COO Jonathan Young sold 12,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $47.76, for a total value of $597,000.00. Following the transaction, the chief operating officer directly owned 196,898 shares of the company’s stock, valued at $9,403,848.48. This represents a 5.97% 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 this link. Also, CEO Andrew Cheng sold 30,000 shares of Akero Therapeutics stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $53.98, for a total transaction of $1,619,400.00. Following the sale, the chief executive officer directly owned 526,114 shares of the company’s stock, valued at $28,399,633.72. The trade was a 5.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,000 shares of company stock valued at $2,792,400 over the last ninety days. 7.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

A number of large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in Akero Therapeutics in the 2nd quarter valued at $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Akero Therapeutics by 189.7% during the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the company’s stock worth $32,000 after buying an additional 442 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in shares of Akero Therapeutics in the first quarter valued at about $32,000. CWM LLC boosted its position in shares of Akero Therapeutics by 261.2% in the third quarter. CWM LLC now owns 809 shares of the company’s stock valued at $38,000 after acquiring an additional 585 shares during the period. Finally, Quarry LP acquired a new position in shares of Akero Therapeutics in the third quarter valued at about $40,000.

Akero Therapeutics Stock Up 0.2%

Shares of Akero Therapeutics stock opened at $54.65 on Thursday. The stock has a market cap of $4.50 billion, a P/E ratio of -28.17 and a beta of -0.40. Akero Therapeutics has a 12-month low of $21.34 and a 12-month high of $58.40. The business’s 50 day moving average is $53.87 and its 200-day moving average is $51.17.

Akero Therapeutics (NASDAQ:AKRO) last released its earnings results on Friday, November 7th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.05). On average, sell-side analysts expect that Akero Therapeutics will post -3.99 EPS for the current 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.