Barclays PLC Purchases 71,652 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Barclays PLC boosted its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 127.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,668 shares of the company’s stock after acquiring an additional 71,652 shares during the period. Barclays PLC owned 0.18% of Akero Therapeutics worth $3,662,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AKRO. Mirae Asset Global Investments Co. Ltd. grew 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 purchasing an additional 446 shares during the last quarter. Eastern Bank bought a new position in shares of Akero Therapeutics during the third quarter valued at approximately $100,000. Summit Financial Wealth Advisors LLC purchased a new stake in Akero Therapeutics in the third quarter worth $205,000. Victory Capital Management Inc. purchased a new position in Akero Therapeutics during the 3rd quarter valued at $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Akero Therapeutics in the 3rd quarter worth $265,000.

Akero Therapeutics Stock Performance

Akero Therapeutics stock opened at $29.34 on Monday. The stock’s 50 day moving average is $30.89 and its 200 day moving average is $27.50. The company has a market capitalization of $2.05 billion, a P/E ratio of -7.82 and a beta of -0.23. Akero Therapeutics, Inc. has a twelve month low of $15.32 and a twelve month high of $37.00. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). On average, equities research analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO William Richard White sold 2,817 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total transaction of $86,735.43. Following the sale, the chief financial officer now directly owns 38,335 shares in the company, valued at $1,180,334.65. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Young sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $28.18, for a total value of $281,800.00. Following the completion of the transaction, the chief operating officer now owns 226,286 shares in the company, valued at $6,376,739.48. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 396,802 shares of company stock valued at $12,396,400 over the last ninety days. 7.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AKRO has been the topic of several research analyst reports. Citigroup started coverage on shares of Akero Therapeutics in a research report on Monday, November 18th. They set a “buy” rating and a $65.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Akero Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $46.83.

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.