Point72 Asset Management L.P. Acquires New Stake in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Point72 Asset Management L.P. acquired a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,303,323 shares of the company’s stock, valued at approximately $37,392,000. Point72 Asset Management L.P. owned about 1.87% of Akero Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Akero Therapeutics by 21.6% in the 3rd 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 last quarter. Eastern Bank acquired a new stake in Akero Therapeutics in the 3rd quarter worth about $100,000. Summit Financial Wealth Advisors LLC acquired a new stake in Akero Therapeutics in the 3rd quarter worth about $205,000. Victory Capital Management Inc. acquired a new stake in Akero Therapeutics in the 3rd quarter worth about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Akero Therapeutics in the 3rd quarter worth about $265,000.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 1,738 shares of the firm’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 sale, the chief executive officer now owns 605,417 shares in the company, valued at $15,849,817.06. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Catriona Yale sold 2,485 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $27.52, for a total value of $68,387.20. Following the sale, the insider now owns 75,294 shares of the company’s stock, valued at approximately $2,072,090.88. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 383,248 shares of company stock worth $11,940,986. 7.94% of the stock is currently owned by company insiders.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO opened at $30.92 on Thursday. The company has a market cap of $2.16 billion, a P/E ratio of -8.25 and a beta of -0.23. 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, Inc. has a one year low of $15.32 and a one year high of $37.00. The business’s 50-day simple moving average is $30.59 and its 200 day simple moving average is $26.61.

Akero Therapeutics (NASDAQ:AKRO) last announced its earnings results 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 forecast that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Akero Therapeutics 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.