Akero Therapeutics (NASDAQ:AKRO) Shares Down 3.3% – Time to Sell?

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s stock price dropped 3.3% during trading on Monday . The stock traded as low as $53.14 and last traded at $53.81. Approximately 104,600 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,005,927 shares. The stock had previously closed at $55.62.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. HC Wainwright raised their price objective on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Bank of America lifted their price target on Akero Therapeutics from $63.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Finally, Citigroup reduced their price objective on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $82.50.

Akero Therapeutics Trading Down 0.6%

The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.42 billion, a P/E ratio of -28.41 and a beta of -0.16. The business’s fifty day simple moving average is $44.75 and its two-hundred day simple moving average is $40.68.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $1.91. As a group, analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, insider Timothy Rolph sold 6,250 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $35.88, for a total value of $224,250.00. Following the sale, the insider now owns 169,721 shares of the company’s stock, valued at $6,089,589.48. The trade was a 3.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director G. Walmsley Graham acquired 91,309 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average price of $44.75 per share, with a total value of $4,086,077.75. Following the purchase, the director now owns 1,091,309 shares in the company, valued at approximately $48,836,077.75. This represents a 9.13% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 206,787 shares of company stock worth $9,507,000 over the last three months. Company insiders own 7.07% of the company’s stock.

Institutional Trading of Akero Therapeutics

Several institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake 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 purchasing an additional 1,310 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Akero Therapeutics by 5.0% in the 4th quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company’s stock worth $584,000 after buying an additional 1,000 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Akero Therapeutics during the 4th quarter worth approximately $320,000. Charles Schwab Investment Management Inc. lifted its position in shares of Akero Therapeutics by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock worth $15,042,000 after buying an additional 8,096 shares during the period. Finally, AlphaQuest LLC boosted its stake in Akero Therapeutics by 32,588.0% in the 4th quarter. AlphaQuest LLC now owns 8,172 shares of the company’s stock valued at $227,000 after buying an additional 8,147 shares in the last quarter.

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.