Akero Therapeutics (NASDAQ:AKRO) Releases Earnings Results, Misses Estimates By $0.05 EPS

Akero Therapeutics (NASDAQ:AKRO) announced its earnings results on Friday. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.05), FiscalAI reports.

Akero Therapeutics Trading Up 0.2%

AKRO stock traded up $0.13 during midday trading on Friday, reaching $54.04. 1,117,918 shares of the company’s stock traded hands, compared to its average volume of 1,629,911. Akero Therapeutics has a fifty-two week low of $21.34 and a fifty-two week high of $58.40. The business has a 50-day moving average price of $49.06 and a two-hundred day moving average price of $48.90. The company has a market capitalization of $4.32 billion, a P/E ratio of -27.02 and a beta of -0.35. The company has a debt-to-equity ratio of 0.02, a current ratio of 12.66 and a quick ratio of 12.66.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AKRO shares. HC Wainwright reiterated a “neutral” rating and set a $54.00 target price (down from $72.00) on shares of Akero Therapeutics in a research report on Friday, October 10th. Wolfe Research lowered shares of Akero Therapeutics from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Canaccord Genuity Group downgraded shares of Akero Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the company from $73.00 to $54.00 in a report on Thursday, October 9th. Lifesci Capital downgraded shares of Akero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen lowered shares of Akero Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.38.

Insider Buying and Selling at Akero Therapeutics

In related news, CFO William Richard White sold 659 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were 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 directly owned 57,752 shares of the company’s stock, valued at approximately $2,484,491.04. This represents a 1.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy Rolph sold 12,500 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $44.17, for a total value of $552,125.00. Following the completion of the sale, the insider owned 167,124 shares of the company’s stock, valued at approximately $7,381,867.08. This represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 156,753 shares of company stock worth $7,456,064. Insiders own 7.07% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co boosted its holdings in Akero Therapeutics by 54.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 6,242 shares of the company’s stock worth $334,000 after acquiring an additional 2,192 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Akero Therapeutics by 47.0% during the second quarter. BNP Paribas Financial Markets now owns 7,475 shares of the company’s stock worth $399,000 after purchasing an additional 2,389 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Akero Therapeutics by 14.0% in the first quarter. Royal Bank of Canada now owns 26,602 shares of the company’s stock valued at $1,077,000 after purchasing an additional 3,263 shares during the period. E Fund Management Co. Ltd. grew its holdings in Akero Therapeutics by 50.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 10,395 shares of the company’s stock valued at $555,000 after purchasing an additional 3,471 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Akero Therapeutics by 15.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,818 shares of the company’s stock worth $1,943,000 after acquiring an additional 6,376 shares during 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.