Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 78.0% during the second quarter, Holdings Channel reports. The fund owned 169,591 shares of the company’s stock after selling 602,584 shares during the quarter. Millennium Management LLC’s holdings in Akero Therapeutics were worth $3,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AKRO. Janus Henderson Group PLC raised its stake in shares of Akero Therapeutics by 42.2% during the first quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company’s stock valued at $154,589,000 after purchasing an additional 1,815,569 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Akero Therapeutics by 10.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company’s stock worth $102,569,000 after purchasing an additional 384,555 shares during the period. Vanguard Group Inc. boosted its stake in Akero Therapeutics by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after purchasing an additional 584,875 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Akero Therapeutics by 247.7% during the 4th quarter. Wellington Management Group LLP now owns 2,881,989 shares of the company’s stock valued at $67,294,000 after purchasing an additional 2,053,028 shares during the period. Finally, Baker BROS. Advisors LP raised its stake in shares of Akero Therapeutics by 14.6% in the 1st quarter. Baker BROS. Advisors LP now owns 2,713,205 shares of the company’s stock worth $68,536,000 after buying an additional 344,827 shares in the last quarter.

Akero Therapeutics Trading Up 1.9 %

Shares of NASDAQ AKRO opened at $29.63 on Monday. The firm has a market capitalization of $2.05 billion, a PE ratio of -9.26 and a beta of -0.25. Akero Therapeutics, Inc. has a one year low of $11.25 and a one year high of $37.00. The company has a current ratio of 24.89, a quick ratio of 24.89 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $26.74 and a two-hundred day moving average price of $24.03.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.09. As a group, analysts predict that Akero Therapeutics, Inc. will post -3.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AKRO shares. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a research report on Tuesday, September 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Akero Therapeutics in a research note on Thursday, June 20th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Akero Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $43.20.

Insider Buying and Selling

In other Akero Therapeutics news, COO Jonathan Young sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $28.18, for a total transaction of $281,800.00. Following the completion of the transaction, the chief operating officer now owns 226,286 shares of the company’s stock, valued at $6,376,739.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Jonathan Young sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $28.18, for a total transaction of $281,800.00. Following the transaction, the chief operating officer now owns 226,286 shares of the company’s stock, valued at approximately $6,376,739.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew Cheng sold 1,738 shares of the stock in a transaction on Tuesday, September 10th. The shares were 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 directly owns 605,417 shares of the company’s stock, valued at approximately $15,849,817.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,542 shares of company stock worth $7,996,830. 7.94% of the stock is currently owned by insiders.

Akero Therapeutics Company 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.