TD Asset Management Inc Grows Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

TD Asset Management Inc grew its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 23.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,592 shares of the company’s stock after purchasing an additional 29,600 shares during the period. TD Asset Management Inc owned 0.22% of Akero Therapeutics worth $3,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AKRO. Wellington Management Group LLP grew its holdings in Akero Therapeutics by 247.7% in the 4th quarter. Wellington Management Group LLP now owns 2,881,989 shares of the company’s stock valued at $67,294,000 after buying an additional 2,053,028 shares during the period. Vanguard Group Inc. boosted its position in shares of Akero Therapeutics by 19.0% in the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock worth $92,702,000 after acquiring an additional 584,875 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Akero Therapeutics in the first quarter valued at approximately $2,205,000. Seven Eight Capital LP acquired a new position in Akero Therapeutics during the fourth quarter worth approximately $1,459,000. Finally, UBS Group AG raised its stake in Akero Therapeutics by 356.1% during the fourth quarter. UBS Group AG now owns 266,386 shares of the company’s stock worth $6,220,000 after purchasing an additional 207,983 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Akero Therapeutics in a research report on Thursday, June 20th. Wolfe Research initiated coverage on Akero Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.13.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $25.70 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.89 and a current ratio of 24.89. Akero Therapeutics, Inc. has a 1 year low of $11.25 and a 1 year high of $53.77. The firm’s 50-day simple moving average is $25.88 and its 200-day simple moving average is $23.97. The firm has a market cap of $1.78 billion, a PE ratio of -8.03 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.09. Equities analysts forecast that Akero Therapeutics, Inc. will post -3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jonathan Young sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.40, for a total transaction of $117,000.00. Following the completion of the transaction, the chief operating officer now directly owns 246,854 shares of the company’s stock, valued at $5,776,383.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Catriona Yale sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $27.51, for a total transaction of $143,052.00. Following the completion of the transaction, the insider now directly owns 75,931 shares in the company, valued at $2,088,861.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $23.40, for a total value of $117,000.00. Following the transaction, the chief operating officer now owns 246,854 shares of the company’s stock, valued at approximately $5,776,383.60. The disclosure for this sale can be found here. Insiders have sold 273,104 shares of company stock valued at $7,411,106 over the last quarter. Insiders own 7.94% of the company’s stock.

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.