Y Intercept Hong Kong Ltd Takes Position in Akero Therapeutics, Inc. $AKRO

Y Intercept Hong Kong Ltd purchased a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 39,002 shares of the company’s stock, valued at approximately $2,081,000.

Several other hedge funds also recently made changes to their positions in AKRO. FNY Investment Advisers LLC purchased a new position in shares of Akero Therapeutics in the second quarter valued at $28,000. Northwest & Ethical Investments L.P. bought a new stake in Akero Therapeutics during the first quarter valued at $32,000. PNC Financial Services Group Inc. boosted its stake in Akero Therapeutics by 30.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company’s stock valued at $67,000 after buying an additional 390 shares during the period. GF Fund Management CO. LTD. boosted its stake in Akero Therapeutics by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company’s stock valued at $72,000 after buying an additional 321 shares during the period. Finally, Amalgamated Bank boosted its stake in Akero Therapeutics by 19.0% during the first quarter. Amalgamated Bank now owns 2,570 shares of the company’s stock valued at $104,000 after buying an additional 410 shares during the period.

Akero Therapeutics Trading Down 0.1%

Shares of AKRO stock opened at $54.20 on Friday. The company has a quick ratio of 12.66, a current ratio of 12.66 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $48.55 and a two-hundred day moving average price of $48.45. Akero Therapeutics, Inc. has a 12-month low of $21.34 and a 12-month high of $58.40. The firm has a market cap of $4.34 billion, a P/E ratio of -27.10 and a beta of -0.29.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.11. During the same period in the prior year, the business posted ($0.81) EPS. Equities analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current fiscal year.

Insider Activity

In other Akero Therapeutics news, insider Timothy Rolph sold 12,500 shares of Akero Therapeutics stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the sale, the insider owned 166,571 shares of the company’s stock, valued at $7,675,591.68. The trade was a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jonathan Young sold 12,500 shares of Akero Therapeutics 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 sale, the chief operating officer directly owned 196,898 shares of the company’s stock, valued at approximately $9,403,848.48. This trade represents a 5.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 169,253 shares of company stock valued at $8,072,314. 7.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AKRO shares. HC Wainwright reissued a “neutral” rating and set a $54.00 price objective (down previously from $72.00) on shares of Akero Therapeutics in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Akero Therapeutics in a report on Wednesday, October 8th. Wolfe Research lowered Akero Therapeutics from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Jefferies Financial Group lowered Akero Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $75.00 to $56.00 in a report on Thursday, October 9th. Finally, Cowen assumed coverage on Akero Therapeutics in a report on Monday, August 4th. They set a “buy” rating for the company. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Akero Therapeutics currently has an average rating of “Hold” and an average price target of $73.38.

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.