Akero Therapeutics (NASDAQ:AKRO) Trading 8.4% Higher – Time to Buy?

Akero Therapeutics, Inc. (NASDAQ:AKRO) was up 8.4% during mid-day trading on Thursday . The stock traded as high as $24.03 and last traded at $24.17. Approximately 575,406 shares changed hands during trading, a decline of 36% from the average daily volume of 902,891 shares. The stock had previously closed at $22.31.

Analysts Set New Price Targets

Several analysts have issued reports on AKRO shares. Citigroup started coverage on Akero Therapeutics in a research report on Monday, November 18th. They set a “buy” rating and a $65.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a report on Thursday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.83.

Akero Therapeutics Price Performance

The stock has a 50 day simple moving average of $28.99 and a two-hundred day simple moving average of $27.95. The firm has a market cap of $1.75 billion, a PE ratio of -6.70 and a beta of -0.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data 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). Sell-side analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Insider Buying and Selling at Akero Therapeutics

In related news, VP Patrick Lamy sold 925 shares of Akero Therapeutics stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the completion of the transaction, the vice president now owns 17,858 shares in the company, valued at $549,847.82. The trade was a 4.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Cheng sold 108,366 shares of Akero Therapeutics stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $31.73, for a total value of $3,438,453.18. Following the completion of the transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at approximately $19,209,881.41. This represents a 15.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,135 shares of company stock worth $8,223,000. Insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Simplify Asset Management Inc. increased its stake in shares of Akero Therapeutics by 15.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock valued at $8,141,000 after purchasing an additional 38,279 shares in the last quarter. Perceptive Advisors LLC increased its stake in Akero Therapeutics by 8.1% during the 2nd 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. FMR LLC increased its stake in Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock worth $870,000 after buying an additional 26,691 shares in the last quarter. Barclays PLC increased its stake in Akero Therapeutics by 127.9% during the 3rd quarter. Barclays PLC now owns 127,668 shares of the company’s stock worth $3,662,000 after buying an additional 71,652 shares in the last quarter. Finally, Propel Bio Management LLC increased its stake in Akero Therapeutics by 4.9% during the 3rd quarter. Propel Bio Management LLC now owns 343,729 shares of the company’s stock worth $9,862,000 after buying an additional 15,977 shares in the last quarter.

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.