Akero Therapeutics (NASDAQ:AKRO) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of Akero Therapeutics (NASDAQ:AKRO) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $65.00 price target on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 11th. One equities research 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.com, Akero Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $46.83.

Akero Therapeutics Trading Up 1.8 %

NASDAQ AKRO opened at $31.20 on Monday. Akero Therapeutics has a 12-month low of $15.32 and a 12-month high of $37.00. The company has a fifty day simple moving average of $29.84 and a two-hundred day simple moving average of $25.89. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.18 billion, a P/E ratio of -8.32 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). On average, analysts forecast that Akero Therapeutics will post -3.96 earnings per share for the current year.

Insider Activity at Akero Therapeutics

In other news, insider Catriona Yale sold 15,485 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $32.62, for a total transaction of $505,120.70. Following the sale, the insider now directly owns 74,158 shares of the company’s stock, valued at $2,419,033.96. This represents a 17.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Cheng sold 1,738 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total value of $45,500.84. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 428,607 shares of company stock worth $13,005,564 in the last three months. Company insiders own 7.94% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Akero Therapeutics by 54.4% during the third quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after acquiring an additional 2,782,029 shares during the period. Janus Henderson Group PLC lifted its stake in Akero Therapeutics by 42.2% in the 1st quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company’s stock valued at $154,589,000 after buying an additional 1,815,569 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Akero Therapeutics in the 3rd quarter worth about $37,392,000. Redmile Group LLC increased its stake in Akero Therapeutics by 67.5% during the 1st quarter. Redmile Group LLC now owns 1,858,702 shares of the company’s stock worth $46,951,000 after buying an additional 749,226 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Akero Therapeutics by 19.0% during the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after acquiring an additional 584,875 shares during the last quarter.

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.