Summit Investment Advisors Inc. Boosts Stake in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Summit Investment Advisors Inc. boosted its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 6.8% in the 4th quarter, HoldingsChannel reports. The fund owned 7,092 shares of the company’s stock after acquiring an additional 450 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Akero Therapeutics were worth $197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Handelsbanken Fonder AB grew its stake in shares of Akero Therapeutics by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company’s stock worth $584,000 after purchasing an additional 1,000 shares during the period. Swiss National Bank boosted its holdings in Akero Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 95,600 shares of the company’s stock worth $2,660,000 after buying an additional 1,100 shares in the last quarter. Rhumbline Advisers grew its position in Akero Therapeutics by 1.3% during the fourth quarter. Rhumbline Advisers now owns 105,686 shares of the company’s stock worth $2,940,000 after buying an additional 1,310 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Akero Therapeutics by 10.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock valued at $412,000 after buying an additional 1,446 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Akero Therapeutics by 764.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock valued at $50,000 after acquiring an additional 1,582 shares during the period.

Akero Therapeutics Stock Performance

Shares of NASDAQ AKRO opened at $38.50 on Wednesday. The company has a 50-day simple moving average of $42.82 and a 200-day simple moving average of $36.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The company has a market cap of $3.07 billion, a PE ratio of -10.27 and a beta of -0.18. Akero Therapeutics, Inc. has a 12 month low of $17.86 and a 12 month high of $58.40.

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

Wall Street Analyst Weigh In

AKRO has been the topic of a number of research reports. Bank of America upgraded Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. HC Wainwright upped 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. UBS Group boosted their price objective on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Citigroup lifted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Canaccord Genuity Group increased their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics currently has a consensus rating of “Buy” and an average price target of $76.29.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, VP Patrick Lamy sold 5,000 shares of Akero Therapeutics stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the sale, the vice president now owns 33,492 shares in the company, valued at $1,910,048.76. The trade was a 12.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $35.23, for a total transaction of $1,056,900.00. Following the transaction, the chief executive officer now owns 624,324 shares in the company, valued at approximately $21,994,934.52. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 341,309 shares of company stock worth $15,863,578 and sold 287,458 shares worth $13,689,886. Insiders own 7.94% of the company’s stock.

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.