30,208 Shares in Akero Therapeutics, Inc. (NASDAQ:AKRO) Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 30,208 shares of the company’s stock, valued at approximately $840,000.

A number of other institutional investors also recently bought and sold shares of AKRO. Sterling Capital Management LLC raised its holdings in Akero Therapeutics by 764.3% during the fourth 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. Quarry LP bought a new stake in Akero Therapeutics during the fourth quarter valued at about $83,000. Summit Investment Advisors Inc. raised its holdings in Akero Therapeutics by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock valued at $197,000 after acquiring an additional 450 shares during the period. Hsbc Holdings PLC raised its holdings in Akero Therapeutics by 8.5% during the fourth quarter. Hsbc Holdings PLC now owns 7,886 shares of the company’s stock valued at $220,000 after acquiring an additional 621 shares during the period. Finally, AlphaQuest LLC raised its holdings in Akero Therapeutics by 32,588.0% during the fourth quarter. AlphaQuest LLC now owns 8,172 shares of the company’s stock valued at $227,000 after acquiring an additional 8,147 shares during the period.

Insider Buying and Selling

In other Akero Therapeutics news, insider Timothy Rolph sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $35.88, for a total transaction of $224,250.00. Following the completion of the transaction, the insider now owns 169,721 shares in the company, valued at $6,089,589.48. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $41.48, for a total value of $1,244,400.00. Following the transaction, the chief executive officer now owns 594,324 shares of the company’s stock, valued at $24,652,559.52. This trade represents a 4.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,208 shares of company stock worth $9,218,994. Corporate insiders own 7.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. HC Wainwright raised their price target 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 lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Canaccord Genuity Group lifted their target price on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Citigroup reduced their target price on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Bank of America raised Akero Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $76.00.

Akero Therapeutics Trading Down 5.3%

AKRO opened at $37.88 on Thursday. The firm has a market cap of $3.02 billion, a P/E ratio of -10.10 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 company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $40.98 and a 200 day moving average of $37.66.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Monday, May 12th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of ($1.01) by $1.91. As a group, research analysts forecast that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

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.