Simplify Asset Management Inc. Has $7.36 Million Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Simplify Asset Management Inc. lowered its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 6.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 264,677 shares of the company’s stock after selling 19,089 shares during the period. Akero Therapeutics makes up 0.4% of Simplify Asset Management Inc.’s portfolio, making the stock its 14th largest holding. Simplify Asset Management Inc. owned 0.38% of Akero Therapeutics worth $7,363,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Summit Financial Wealth Advisors LLC acquired a new stake in shares of Akero Therapeutics during the third quarter worth $205,000. Victory Capital Management Inc. bought a new position in Akero Therapeutics during the third quarter worth about $211,000. AlphaQuest LLC raised its stake in Akero Therapeutics by 32,588.0% in the 4th quarter. AlphaQuest LLC now owns 8,172 shares of the company’s stock worth $227,000 after purchasing an additional 8,147 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Akero Therapeutics in the 3rd quarter valued at about $265,000. Finally, Sei Investments Co. acquired a new position in shares of Akero Therapeutics during the 4th quarter worth approximately $303,000.

Akero Therapeutics Stock Up 1.3 %

AKRO stock opened at $45.22 on Friday. The stock has a market capitalization of $3.60 billion, a P/E ratio of -12.06 and a beta of -0.19. 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 50-day moving average price of $43.93 and a 200-day moving average price of $34.46. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings data 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). As a group, equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Akero Therapeutics news, COO Jonathan Young sold 607 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total transaction of $27,242.16. Following the completion of the sale, the chief operating officer now owns 200,540 shares of the company’s stock, valued at approximately $9,000,235.20. This represents a 0.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Catriona Yale sold 614 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total transaction of $27,556.32. Following the completion of the transaction, the insider now owns 95,034 shares in the company, valued at $4,265,125.92. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,135 shares of company stock valued at $12,345,079 over the last 90 days. 7.94% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.