Proficio Capital Partners LLC Makes New $320,000 Investment in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Proficio Capital Partners LLC purchased a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) in the 4th quarter, Holdings Channel reports. The fund purchased 11,490 shares of the company’s stock, valued at approximately $320,000.

Several other institutional investors have also recently made changes to their positions in AKRO. Summit Financial Wealth Advisors LLC purchased a new stake in Akero Therapeutics during the third quarter valued at approximately $205,000. Victory Capital Management Inc. bought a new stake in shares of Akero Therapeutics during the 3rd quarter valued at $211,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Akero Therapeutics in the 3rd quarter worth $265,000. XTX Topco Ltd bought a new position in Akero Therapeutics in the 3rd quarter worth $308,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Akero Therapeutics by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock valued at $412,000 after purchasing an additional 1,446 shares in the last quarter.

Insider Activity

In other Akero Therapeutics news, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the transaction, the chief operating officer now owns 218,083 shares in the company, valued at $6,112,866.49. The trade was a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy Rolph sold 31,250 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $55.77, for a total transaction of $1,742,812.50. Following the sale, the insider now directly owns 170,237 shares of the company’s stock, valued at $9,494,117.49. The trade was a 15.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 252,135 shares of company stock worth $12,345,079. Company insiders own 7.94% of the company’s stock.

Akero Therapeutics Trading Up 0.4 %

Shares of NASDAQ AKRO opened at $45.24 on Wednesday. Akero Therapeutics, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $58.40. 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 has a market cap of $3.60 billion, a price-to-earnings ratio of -12.06 and a beta of -0.19. The business’s 50 day moving average price is $44.85 and its 200-day moving average price is $34.78.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). On average, sell-side analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Analysts Set New Price Targets

AKRO has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $35.00 to $63.00 in a research report on Thursday, January 30th. UBS Group boosted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. HC Wainwright raised their target price on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $76.29.

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.