China Universal Asset Management Co. Ltd. Buys 5,230 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

China Universal Asset Management Co. Ltd. increased its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 64.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,354 shares of the company’s stock after acquiring an additional 5,230 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Akero Therapeutics were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after buying an additional 446 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Akero Therapeutics by 20.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock worth $156,000 after acquiring an additional 1,030 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Akero Therapeutics by 2,366.0% in the first quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $31,000 after acquiring an additional 1,183 shares during the period. Principal Financial Group Inc. raised its stake in shares of Akero Therapeutics by 15.6% during the first quarter. Principal Financial Group Inc. now owns 13,766 shares of the company’s stock valued at $348,000 after acquiring an additional 1,858 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Akero Therapeutics by 12.4% during the third quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock worth $574,000 after purchasing an additional 2,200 shares during the period.

Insider Activity

In related news, CEO Andrew Cheng sold 63,539 shares of Akero Therapeutics stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $31.53, for a total transaction of $2,003,384.67. Following the sale, the chief executive officer now directly owns 605,417 shares in the company, valued at $19,088,798.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Catriona Yale sold 6,136 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $30.03, for a total value of $184,264.08. Following the completion of the transaction, the insider now directly owns 74,158 shares in the company, valued at $2,226,964.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Cheng sold 63,539 shares of Akero Therapeutics stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $31.53, for a total transaction of $2,003,384.67. Following the transaction, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at approximately $19,088,798.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,315 shares of company stock worth $7,306,420 in the last quarter. 7.94% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a report on Tuesday, September 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.20.

Akero Therapeutics Trading Down 3.2 %

NASDAQ:AKRO opened at $30.70 on Thursday. The company has a 50-day moving average price of $28.13 and a 200-day moving average price of $24.65. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -9.59 and a beta of -0.25. The company has a current ratio of 24.89, a quick ratio of 24.89 and a debt-to-equity ratio of 0.04. Akero Therapeutics, Inc. has a 12 month low of $11.36 and a 12 month high of $37.00.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.09. Equities analysts predict that Akero Therapeutics, Inc. will post -3.64 EPS for the current year.

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.