Akero Therapeutics, Inc. (NASDAQ:AKRO) Stock Holdings Raised by Perceptive Advisors LLC

Perceptive Advisors LLC increased its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 8.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,499,897 shares of the company’s stock after purchasing an additional 112,426 shares during the period. Perceptive Advisors LLC owned 2.17% of Akero Therapeutics worth $35,188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Long Focus Capital Management LLC increased its holdings in shares of Akero Therapeutics by 119.0% in the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock valued at $16,882,000 after acquiring an additional 391,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Akero Therapeutics by 26.1% during the second quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company’s stock worth $2,514,000 after purchasing an additional 22,195 shares during the period. Ensign Peak Advisors Inc lifted its position in shares of Akero Therapeutics by 2.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 237,494 shares of the company’s stock worth $5,572,000 after buying an additional 4,950 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Akero Therapeutics in the 2nd quarter valued at about $565,000. Finally, American Century Companies Inc. bought a new stake in shares of Akero Therapeutics during the 2nd quarter valued at about $347,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AKRO shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Akero Therapeutics in a research report on Thursday, June 20th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research report on Tuesday, September 17th. Finally, Wolfe Research began coverage on shares of Akero Therapeutics in a research note on Tuesday, June 11th. They set an “outperform” rating for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.13.

Insider Activity

In other Akero Therapeutics news, CFO William Richard White sold 34,811 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $28.04, for a total value of $976,100.44. Following the transaction, the chief financial officer now owns 41,791 shares of the company’s stock, valued at $1,171,819.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction 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 of the company’s stock, valued at $15,849,817.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO William Richard White sold 34,811 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $28.04, for a total value of $976,100.44. Following the completion of the transaction, the chief financial officer now directly owns 41,791 shares in the company, valued at $1,171,819.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 283,542 shares of company stock worth $7,715,030. 7.94% of the stock is owned by company insiders.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $28.24 on Monday. The firm’s 50-day simple moving average is $26.45 and its 200 day simple moving average is $23.83. The stock has a market cap of $1.95 billion, a P/E ratio of -8.83 and a beta of -0.26. The company has a quick ratio of 24.89, a current ratio of 24.89 and a debt-to-equity ratio of 0.04. Akero Therapeutics, Inc. has a fifty-two week low of $11.25 and a fifty-two week high of $51.24.

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, topping analysts’ consensus estimates of ($0.90) by $0.09. Equities analysts expect that Akero Therapeutics, Inc. will post -3.64 EPS for the current year.

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.