Akero Therapeutics, Inc. (NASDAQ:AKRO) Short Interest Update

Akero Therapeutics, Inc. (NASDAQ:AKRO) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 3,630,000 shares, a growth of 8.4% from the January 15th total of 3,350,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 3.2 days.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO opened at $50.52 on Tuesday. Akero Therapeutics has a 1 year low of $17.86 and a 1 year high of $58.40. The business has a fifty day simple moving average of $35.35 and a 200 day simple moving average of $31.05. 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 firm has a market cap of $3.53 billion, a price-to-earnings ratio of -13.47 and a beta of -0.11.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AKRO. Citigroup increased their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley increased their price target on Akero Therapeutics from $46.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. HC Wainwright increased their price target on Akero Therapeutics from $50.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Bank of America raised Akero Therapeutics from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Finally, UBS Group increased their price target on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $75.86.

Insider Buying and Selling at Akero Therapeutics

In other news, COO Jonathan Young sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $32.13, for a total transaction of $321,300.00. Following the sale, the chief operating officer now directly owns 206,286 shares in the company, valued at approximately $6,627,969.18. This represents a 4.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patrick Lamy sold 925 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the sale, the vice president now owns 17,858 shares in the company, valued at $549,847.82. The trade was a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,992 shares of company stock worth $9,134,713 over the last quarter. 7.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Akero Therapeutics by 18.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,451 shares of the company’s stock valued at $1,988,000 after acquiring an additional 11,035 shares during the last quarter. Woodline Partners LP raised its stake in shares of Akero Therapeutics by 29.9% in the fourth quarter. Woodline Partners LP now owns 379,967 shares of the company’s stock valued at $10,571,000 after acquiring an additional 87,499 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Akero Therapeutics by 195.7% in the fourth quarter. Two Sigma Advisers LP now owns 41,100 shares of the company’s stock valued at $1,143,000 after acquiring an additional 27,200 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Akero Therapeutics by 43.3% in the fourth quarter. Two Sigma Investments LP now owns 127,320 shares of the company’s stock valued at $3,542,000 after acquiring an additional 38,500 shares during the last quarter. Finally, Tema Etfs LLC bought a new position in Akero Therapeutics in the 4th quarter worth approximately $894,000.

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.