Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Bought by MPM Bioimpact LLC

MPM Bioimpact LLC raised its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 460,617 shares of the company’s stock after purchasing an additional 68,073 shares during the quarter. Akero Therapeutics accounts for 1.8% of MPM Bioimpact LLC’s holdings, making the stock its 24th largest holding. MPM Bioimpact LLC owned 0.66% of Akero Therapeutics worth $12,814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AKRO. Sterling Capital Management LLC increased its holdings in Akero Therapeutics by 764.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,789 shares of the company’s stock worth $50,000 after purchasing an additional 1,582 shares during the period. Quarry LP acquired a new stake in shares of Akero Therapeutics in the 4th quarter valued at about $83,000. Summit Investment Advisors Inc. lifted its position in Akero Therapeutics by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock worth $197,000 after acquiring an additional 450 shares during the period. Hsbc Holdings PLC lifted its position in Akero Therapeutics by 8.5% during the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company’s stock worth $220,000 after acquiring an additional 621 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Akero Therapeutics by 32,588.0% during the 4th quarter. AlphaQuest LLC now owns 8,172 shares of the company’s stock worth $227,000 after buying an additional 8,147 shares in the last quarter.

Akero Therapeutics Trading Down 3.7%

Shares of NASDAQ:AKRO opened at $40.01 on Wednesday. The company has a market cap of $3.19 billion, a P/E ratio of -10.67 and a beta of -0.12. The stock’s 50-day moving average is $41.07 and its 200-day moving average is $37.66. Akero Therapeutics, Inc. has a 52-week low of $17.86 and a 52-week high of $58.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last released its earnings results on Monday, May 12th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of ($1.01) by $1.91. Equities research analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Activity

In other news, CFO William Richard White sold 676 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 transaction of $30,338.88. Following the transaction, the chief financial officer now directly owns 61,959 shares of the company’s stock, valued at $2,780,719.92. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Catriona Yale sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $49.87, for a total transaction of $498,700.00. Following the completion of the sale, the insider now directly owns 95,648 shares in the company, valued at $4,769,965.76. This represents a 9.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,208 shares of company stock worth $9,218,994. Insiders own 7.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AKRO shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Citigroup decreased their price objective on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday. Canaccord Genuity Group lifted their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Bank of America upgraded 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 research note on Thursday, January 30th. Finally, HC Wainwright boosted their price target on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics presently has an average rating of “Buy” and a consensus target price of $76.00.

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.