Los Angeles Capital Management LLC Acquires New Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Los Angeles Capital Management LLC bought a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,343 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds also recently made changes to their positions in the company. Quarry LP boosted its holdings in Akero Therapeutics by 40.0% in the fourth quarter. Quarry LP now owns 1,750 shares of the company’s stock worth $41,000 after purchasing an additional 500 shares during the period. Orion Capital Management LLC bought a new stake in shares of Akero Therapeutics during the 3rd quarter valued at about $51,000. Strs Ohio raised its stake in Akero Therapeutics by 100.0% during the fourth quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $46,000 after acquiring an additional 1,000 shares during the period. Headlands Technologies LLC bought a new position in Akero Therapeutics in the fourth quarter worth about $28,000. Finally, New York State Common Retirement Fund boosted its stake in Akero Therapeutics by 3.6% in the fourth quarter. New York State Common Retirement Fund now owns 34,545 shares of the company’s stock valued at $807,000 after acquiring an additional 1,214 shares during the period.

Insider Buying and Selling

In other news, COO Jonathan Young sold 5,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $24.38, for a total transaction of $121,900.00. Following the completion of the sale, the chief operating officer now owns 263,306 shares in the company, valued at approximately $6,419,400.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Catriona Yale sold 2,825 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $22.64, for a total value of $63,958.00. Following the transaction, the insider now directly owns 74,867 shares of the company’s stock, valued at $1,694,988.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $24.38, for a total transaction of $121,900.00. Following the sale, the chief operating officer now owns 263,306 shares in the company, valued at approximately $6,419,400.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,635 shares of company stock worth $695,716. Corporate insiders own 7.94% of the company’s stock.

Akero Therapeutics Price Performance

Shares of NASDAQ:AKRO opened at $23.40 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -7.31 and a beta of -0.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 30.12 and a quick ratio of 30.12. Akero Therapeutics, Inc. has a 12 month low of $11.25 and a 12 month high of $53.77. The stock’s 50 day moving average price is $20.93 and its 200 day moving average price is $22.61.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.90) earnings per share for the quarter, meeting the consensus estimate of ($0.90). Equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AKRO has been the topic of several recent research reports. Evercore ISI cut their price target on Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research report on Tuesday, June 11th. UBS Group lifted their price objective on shares of Akero Therapeutics from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Akero Therapeutics in a research report on Thursday, June 20th. Finally, Wolfe Research started coverage on Akero Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.13.

About Akero Therapeutics

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.