The Manufacturers Life Insurance Company Has $3.47 Million Stake in Akero Therapeutics, Inc. (NASDAQ:AKRO)

The Manufacturers Life Insurance Company grew its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 29.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 124,592 shares of the company’s stock after buying an additional 28,043 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.18% of Akero Therapeutics worth $3,466,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Akero Therapeutics by 13.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,321,972 shares of the company’s stock valued at $120,238,000 after acquiring an additional 513,613 shares in the last quarter. Vanguard Group Inc. lifted its position in Akero Therapeutics by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,704,411 shares of the company’s stock worth $103,057,000 after purchasing an additional 27,830 shares during the period. Rock Springs Capital Management LP boosted its stake in Akero Therapeutics by 1.4% during the fourth quarter. Rock Springs Capital Management LP now owns 946,499 shares of the company’s stock worth $26,332,000 after buying an additional 13,100 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 buying an additional 583,486 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Akero Therapeutics by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock valued at $15,042,000 after buying an additional 8,096 shares in the last quarter.

Akero Therapeutics Stock Down 6.0 %

Shares of NASDAQ AKRO opened at $39.85 on Friday. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -10.63 and a beta of -0.12. Akero Therapeutics, Inc. has a 12-month low of $17.86 and a 12-month high of $58.40. The firm’s 50-day simple moving average is $41.21 and its 200 day simple moving average is $37.43.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly 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, research analysts expect that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Andrew Cheng sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $52.73, for a total value of $1,581,900.00. Following the transaction, the chief executive officer now owns 686,062 shares of the company’s stock, valued at approximately $36,176,049.26. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick Lamy sold 8,000 shares of Akero Therapeutics stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $42.49, for a total transaction of $339,920.00. Following the sale, the vice president now owns 33,492 shares of the company’s stock, valued at approximately $1,423,075.08. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,208 shares of company stock valued at $9,556,494. Company insiders own 7.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AKRO shares. HC Wainwright upped their target price on shares of Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Citigroup increased their target price on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. 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. Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Finally, Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $35.00 to $63.00 in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $76.29.

About Akero Therapeutics

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.