Akero Therapeutics (NASDAQ:AKRO) PT Lowered to $56.00

Akero Therapeutics (NASDAQ:AKROGet Free Report) had its price objective decreased by investment analysts at Canaccord Genuity Group from $59.00 to $56.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 171.58% from the company’s current price.

AKRO has been the subject of several other reports. Bank of America started coverage on Akero Therapeutics in a report on Monday, April 22nd. They set a “neutral” rating and a $30.00 price target for the company. UBS Group lifted their price target on Akero Therapeutics from $39.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a report on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.88.

View Our Latest Report on Akero Therapeutics

Akero Therapeutics Stock Up 4.9 %

NASDAQ:AKRO traded up $0.97 on Monday, hitting $20.62. 211,775 shares of the company’s stock traded hands, compared to its average volume of 1,160,999. The company has a current ratio of 29.27, a quick ratio of 29.27 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a 1 year low of $11.25 and a 1 year high of $58.38. The firm has a 50-day moving average price of $23.76 and a 200-day moving average price of $21.32. The company has a market cap of $1.43 billion, a PE ratio of -6.49 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKROGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.17). Equities analysts anticipate that Akero Therapeutics will post -3.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $20.15, for a total value of $100,750.00. Following the completion of the sale, the chief operating officer now directly owns 258,306 shares in the company, valued at approximately $5,204,865.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Andrew Cheng sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $32.87, for a total transaction of $2,465,250.00. Following the completion of the transaction, the chief executive officer now directly owns 591,416 shares in the company, valued at $19,439,843.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jonathan Young sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $20.15, for a total value of $100,750.00. Following the transaction, the chief operating officer now owns 258,306 shares of the company’s stock, valued at $5,204,865.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,646 shares of company stock worth $3,420,627. 9.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AKRO. Alkeon Capital Management LLC increased its position in shares of Akero Therapeutics by 8.7% during the third quarter. Alkeon Capital Management LLC now owns 3,767,380 shares of the company’s stock valued at $190,554,000 after purchasing an additional 300,000 shares during the period. Vanguard Group Inc. increased its position in shares of Akero Therapeutics by 19.0% during the first 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 during the period. RTW Investments LP bought a new stake in shares of Akero Therapeutics during the fourth quarter valued at approximately $83,891,000. Wellington Management Group LLP increased its position in shares of Akero Therapeutics by 247.7% during the fourth 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, FMR LLC increased its position in shares of Akero Therapeutics by 6.3% during the third quarter. FMR LLC now owns 2,750,348 shares of the company’s stock valued at $139,113,000 after purchasing an additional 162,820 shares during the period.

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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