Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP boosted its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 4.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 67,964 shares of the company’s stock after buying an additional 2,657 shares during the quarter. Cinctive Capital Management LP’s holdings in Akero Therapeutics were worth $1,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. abrdn plc lifted its holdings in shares of Akero Therapeutics by 118.7% in the 4th quarter. abrdn plc now owns 269,782 shares of the company’s stock worth $7,505,000 after acquiring an additional 146,424 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Akero Therapeutics by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock worth $15,042,000 after purchasing an additional 8,096 shares in the last quarter. FMR LLC increased its holdings in Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock worth $870,000 after purchasing an additional 26,691 shares during the period. Proficio Capital Partners LLC purchased a new stake in Akero Therapeutics during the 4th quarter worth about $320,000. Finally, SG Americas Securities LLC raised its position in Akero Therapeutics by 4,022.1% in the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock valued at $16,636,000 after purchasing an additional 583,486 shares in the last quarter.

Akero Therapeutics Trading Up 8.6 %

Shares of Akero Therapeutics stock opened at $41.95 on Thursday. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $46.92 and a 200-day simple moving average of $35.38. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -11.19 and a beta of -0.19. Akero Therapeutics, Inc. has a 12-month low of $17.86 and a 12-month high of $58.40.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on AKRO. UBS Group boosted their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. Canaccord Genuity Group raised their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. HC Wainwright increased their target price on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Citigroup lifted their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $76.29.

Insider Activity

In other Akero Therapeutics news, COO Jonathan Young sold 607 shares of Akero Therapeutics stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total value of $27,242.16. Following the transaction, the chief operating officer now directly owns 200,540 shares in the company, valued at approximately $9,000,235.20. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director G. Walmsley Graham bought 50,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $43.55 per share, with a total value of $2,177,500.00. Following the purchase, the director now directly owns 1,200,000 shares of the company’s stock, valued at approximately $52,260,000. This trade represents a 4.35 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 341,309 shares of company stock valued at $15,863,578 and sold 242,135 shares valued at $12,064,779. Company insiders own 7.94% of the company’s stock.

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.