LMR Partners LLP Raises Stock Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

LMR Partners LLP increased its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 17.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 20,597 shares of the company’s stock after acquiring an additional 2,997 shares during the period. LMR Partners LLP’s holdings in Akero Therapeutics were worth $591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Simplify Asset Management Inc. increased its position in shares of Akero Therapeutics by 15.6% during the third 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. Victory Capital Management Inc. acquired a new position in Akero Therapeutics during the 3rd quarter valued at approximately $211,000. Emerald Advisers LLC raised its holdings in shares of Akero Therapeutics by 1.8% in the third quarter. Emerald Advisers LLC now owns 524,427 shares of the company’s stock worth $15,046,000 after buying an additional 9,175 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Akero Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 13,354 shares of the company’s stock worth $383,000 after buying an additional 5,230 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Akero Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after buying an additional 446 shares during the period.

Akero Therapeutics Stock Up 5.0 %

Shares of AKRO opened at $31.03 on Wednesday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -8.27 and a beta of -0.26. Akero Therapeutics, Inc. has a 52 week low of $15.32 and a 52 week high of $37.00. The stock’s 50-day moving average price is $29.63 and its 200-day moving average price is $25.81. 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 released its quarterly earnings data on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, sell-side analysts predict that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Analysts Set New Price Targets

AKRO has been the topic of several research reports. Citigroup started coverage on Akero Therapeutics in a research note on Monday. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research note on Monday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.83.

Insider Activity at Akero Therapeutics

In other news, CEO Andrew Cheng sold 1,738 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total transaction of $45,500.84. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at $15,849,817.06. This represents a 0.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO William Richard White sold 75,159 shares of Akero Therapeutics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the completion of the sale, the chief financial officer now directly owns 41,791 shares in the company, valued at $1,137,133.11. This represents a 64.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 437,458 shares of company stock worth $13,249,232. 7.94% of the stock is owned by company insiders.

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.