Akero Therapeutics (NASDAQ:AKRO) Shares Down 6.4% – What’s Next?

Akero Therapeutics, Inc. (NASDAQ:AKRO) shares traded down 6.4% during trading on Friday . The company traded as low as $27.50 and last traded at $27.85. 65,103 shares changed hands during trading, a decline of 92% from the average session volume of 862,579 shares. The stock had previously closed at $29.76.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.20.

Akero Therapeutics Stock Performance

The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -7.49 and a beta of -0.26. The firm’s 50 day moving average is $29.46 and its 200-day moving average is $25.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 24.89 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). Sell-side analysts anticipate that Akero Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Catriona Yale sold 15,485 shares of Akero Therapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $32.62, for a total value of $505,120.70. Following the transaction, the insider now directly owns 74,158 shares in the company, valued at approximately $2,419,033.96. The trade was a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $31.73, for a total value of $3,438,453.18. Following the sale, the chief executive officer now owns 605,417 shares of the company’s stock, valued at approximately $19,209,881.41. The trade was a 15.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 428,397 shares of company stock valued at $12,997,971 over the last 90 days. 7.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Several large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Akero Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after buying an additional 446 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Akero Therapeutics by 20.0% during the first quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock valued at $156,000 after acquiring an additional 1,030 shares during the period. Russell Investments Group Ltd. raised its holdings in Akero Therapeutics by 2,366.0% in the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $31,000 after acquiring an additional 1,183 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Akero Therapeutics by 13.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company’s stock worth $485,000 after acquiring an additional 2,049 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of Akero Therapeutics by 12.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock worth $574,000 after purchasing an additional 2,200 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.