TD Waterhouse Canada Inc. Purchases New Holdings in Akero Therapeutics, Inc. $AKRO

TD Waterhouse Canada Inc. acquired a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,380 shares of the company’s stock, valued at approximately $71,000.

Several other institutional investors have also added to or reduced their stakes in AKRO. FNY Investment Advisers LLC bought a new position in shares of Akero Therapeutics during the second quarter valued at approximately $28,000. Northwest & Ethical Investments L.P. purchased a new position in Akero Therapeutics during the 1st quarter valued at $32,000. PNC Financial Services Group Inc. grew its position in Akero Therapeutics by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company’s stock valued at $67,000 after acquiring an additional 390 shares during the last quarter. Assetmark Inc. increased its stake in Akero Therapeutics by 152.9% in the second quarter. Assetmark Inc. now owns 1,439 shares of the company’s stock worth $77,000 after purchasing an additional 870 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Akero Therapeutics by 148.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,391 shares of the company’s stock worth $128,000 after purchasing an additional 1,429 shares during the last quarter.

Insider Buying and Selling

In other Akero Therapeutics news, CFO William Richard White sold 659 shares of Akero Therapeutics stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $43.02, for a total transaction of $28,350.18. Following the completion of the sale, the chief financial officer owned 57,752 shares of the company’s stock, valued at approximately $2,484,491.04. The trade was a 1.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jonathan Young sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $47.76, for a total value of $597,000.00. Following the completion of the transaction, the chief operating officer owned 196,898 shares of the company’s stock, valued at approximately $9,403,848.48. The trade was a 5.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 114,253 shares of company stock worth $5,400,989 over the last ninety days. Company insiders own 7.07% of the company’s stock.

Akero Therapeutics Price Performance

Shares of AKRO stock opened at $54.36 on Wednesday. The stock’s fifty day moving average price is $51.58 and its 200 day moving average price is $50.11. Akero Therapeutics, Inc. has a 1-year low of $21.34 and a 1-year high of $58.40. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -28.02 and a beta of -0.35.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.05). As a group, equities research 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 analyst reports. Jefferies Financial Group cut shares of Akero Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $75.00 to $56.00 in a report on Thursday, October 9th. Zacks Research cut shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Lifesci Capital downgraded shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. HC Wainwright reaffirmed a “neutral” rating and issued a $54.00 price target (down previously from $72.00) on shares of Akero Therapeutics in a research report on Friday, October 10th. Finally, Wolfe Research lowered shares of Akero Therapeutics from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $73.38.

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.