Emerald Mutual Fund Advisers Trust Sells 70,738 Shares of Akero Therapeutics, Inc. $AKRO

Emerald Mutual Fund Advisers Trust trimmed its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 34.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 136,297 shares of the company’s stock after selling 70,738 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Akero Therapeutics were worth $7,273,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Jennison Associates LLC raised its holdings in shares of Akero Therapeutics by 483.3% in the second quarter. Jennison Associates LLC now owns 76,863 shares of the company’s stock valued at $4,101,000 after buying an additional 63,685 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Akero Therapeutics by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 14,977 shares of the company’s stock valued at $799,000 after buying an additional 1,828 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Akero Therapeutics in the second quarter valued at about $2,081,000. Nisa Investment Advisors LLC raised its holdings in shares of Akero Therapeutics by 148.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,391 shares of the company’s stock valued at $128,000 after buying an additional 1,429 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Akero Therapeutics in the second quarter valued at about $28,000.

Insider Transactions at Akero Therapeutics

In other news, COO Jonathan Young sold 12,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $46.08, for a total transaction of $576,000.00. Following the completion of the transaction, the chief operating officer directly owned 197,484 shares in the company, valued at approximately $9,100,062.72. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $43.25, for a total value of $1,297,500.00. Following the transaction, the chief executive officer owned 475,698 shares of the company’s stock, valued at $20,573,938.50. The trade was a 5.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 169,253 shares of company stock worth $8,072,314. 7.07% of the stock is currently owned by company insiders.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $54.00 on Thursday. The firm has a market capitalization of $4.32 billion, a P/E ratio of -27.00 and a beta of -0.29. Akero Therapeutics, Inc. has a 1 year low of $21.34 and a 1 year high of $58.40. The business has a 50-day moving average of $48.33 and a 200-day moving average of $48.29. The company has a current ratio of 12.66, a quick ratio of 12.66 and a debt-to-equity ratio of 0.02.

Akero Therapeutics (NASDAQ:AKRO) last posted its 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 last year, the business earned ($0.81) EPS. On average, equities analysts anticipate that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HC Wainwright reiterated a “neutral” rating and issued a $54.00 price objective (down from $72.00) on shares of Akero Therapeutics in a research report on Friday, October 10th. Jefferies Financial Group lowered Akero Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $75.00 to $56.00 in a research report on Thursday, October 9th. Cowen assumed coverage on Akero Therapeutics in a research report on Monday, August 4th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Akero Therapeutics in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Akero Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Akero Therapeutics has a consensus rating of “Hold” and a consensus target price 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.