Akero Therapeutics (NASDAQ:AKRO) Stock Price Up 4.8% on Analyst Upgrade

Akero Therapeutics, Inc. (NASDAQ:AKROGet Free Report) traded up 4.8% during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $46.00 to $96.00. Morgan Stanley currently has an overweight rating on the stock. Akero Therapeutics traded as high as $55.74 and last traded at $53.96. 2,331,912 shares were traded during mid-day trading, an increase of 11% from the average session volume of 2,092,562 shares. The stock had previously closed at $51.47.

Several other equities analysts have also recently issued reports on the stock. Citigroup upped their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity Group increased their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday. Finally, HC Wainwright upped their target price on shares of Akero Therapeutics from $50.00 to $72.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Akero Therapeutics has an average rating of “Moderate Buy” and an average target price of $61.57.

Check Out Our Latest Stock Analysis on AKRO

Insider Transactions at Akero Therapeutics

In other news, VP Patrick Lamy sold 925 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $28,480.75. Following the completion of the transaction, the vice president now owns 17,858 shares in the company, valued at $549,847.82. This trade represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Cheng sold 108,366 shares of Akero Therapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $31.73, for a total value of $3,438,453.18. Following the completion of the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at $19,209,881.41. This trade represents a 15.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 323,870 shares of company stock valued at $11,751,090 over the last 90 days. Company insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AKRO. Wellington Management Group LLP boosted its holdings in shares of Akero Therapeutics by 54.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after purchasing an additional 2,782,029 shares during the period. Point72 Asset Management L.P. bought a new stake in Akero Therapeutics in the third quarter worth $37,392,000. SG Americas Securities LLC boosted its stake in Akero Therapeutics by 4,022.1% during the fourth quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after buying an additional 583,486 shares during the period. RTW Investments LP increased its position in Akero Therapeutics by 9.0% during the third quarter. RTW Investments LP now owns 5,919,435 shares of the company’s stock valued at $169,829,000 after acquiring an additional 487,450 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Akero Therapeutics by 2.9% in the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company’s stock valued at $203,053,000 after acquiring an additional 201,225 shares during the period.

Akero Therapeutics Stock Up 4.9 %

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 company’s fifty day moving average price is $29.31 and its 200-day moving average price is $28.51. The stock has a market cap of $3.77 billion, a P/E ratio of -14.40 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKROGet Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). Equities analysts forecast that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Akero Therapeutics Company Profile

(Get Free Report)

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.

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