Fmr LLC Purchases 26,691 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Fmr LLC grew its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 732.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,337 shares of the company’s stock after purchasing an additional 26,691 shares during the period. Fmr LLC’s holdings in Akero Therapeutics were worth $870,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Perceptive Advisors LLC lifted its holdings in Akero Therapeutics by 8.1% during the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock worth $35,188,000 after acquiring an additional 112,426 shares during the period. Long Focus Capital Management LLC increased its position in shares of Akero Therapeutics by 119.0% during the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock valued at $16,882,000 after purchasing an additional 391,000 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Akero Therapeutics by 1.8% during the 3rd quarter. Emerald Advisers LLC now owns 524,427 shares of the company’s stock worth $15,046,000 after purchasing an additional 9,175 shares during the period. Simplify Asset Management Inc. boosted its holdings 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 worth $8,141,000 after buying an additional 38,279 shares during the last quarter. Finally, Rheos Capital Works Inc. grew its position in Akero Therapeutics by 27.8% during the third quarter. Rheos Capital Works Inc. now owns 276,000 shares of the company’s stock valued at $7,918,000 after buying an additional 60,000 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on AKRO shares. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research report on Monday, November 18th. Citigroup assumed coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.83.

Insider Activity at Akero Therapeutics

In other news, insider Catriona Yale sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $27.65, for a total value of $152,075.00. Following the completion of the transaction, the insider now directly owns 75,294 shares in the company, valued at approximately $2,081,879.10. This trade represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patrick Lamy sold 925 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $28,480.75. Following the sale, the vice president now directly owns 17,858 shares in the company, valued at $549,847.82. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 392,228 shares of company stock worth $12,255,200. Corporate insiders own 7.94% of the company’s stock.

Akero Therapeutics Trading Up 4.7 %

Shares of Akero Therapeutics stock opened at $30.61 on Wednesday. The stock has a market capitalization of $2.14 billion, a P/E ratio of -8.16 and a beta of -0.23. Akero Therapeutics, Inc. has a 52-week low of $15.32 and a 52-week high of $37.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The stock’s 50-day simple moving average is $30.91 and its 200 day simple moving average is $27.35.

Akero Therapeutics (NASDAQ:AKRO) last posted its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). As a group, research analysts anticipate that Akero Therapeutics, Inc. will post -3.96 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.