Connor Clark & Lunn Investment Management Ltd. Reduces Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 85.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,159 shares of the company’s stock after selling 59,836 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Akero Therapeutics were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Akero Therapeutics by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after buying an additional 584,875 shares during the period. Perceptive Advisors LLC increased its position in shares of Akero Therapeutics by 8.1% during the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock worth $35,188,000 after acquiring an additional 112,426 shares during the period. Long Focus Capital Management LLC raised its stake in shares of Akero Therapeutics by 119.0% during the second quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock valued at $16,882,000 after acquiring an additional 391,000 shares in the last quarter. Emerald Advisers LLC boosted its holdings in shares of Akero Therapeutics by 1.8% in the third quarter. Emerald Advisers LLC now owns 524,427 shares of the company’s stock valued at $15,046,000 after purchasing an additional 9,175 shares during the period. Finally, Simplify Asset Management Inc. grew its stake in Akero Therapeutics by 15.6% in the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock worth $8,141,000 after purchasing an additional 38,279 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AKRO shares. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 18th. Citigroup began coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.83.

Akero Therapeutics Trading Down 0.2 %

AKRO opened at $32.10 on Friday. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -8.56 and a beta of -0.26. Akero Therapeutics, Inc. has a 12 month low of $15.32 and a 12 month high of $37.00. The stock has a fifty day moving average price of $30.41 and a 200-day moving average price of $26.39.

Akero Therapeutics (NASDAQ:AKRO) last announced its earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). As a group, equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Transactions at Akero Therapeutics

In other news, CEO Andrew Cheng sold 1,738 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total value of $45,500.84. Following the completion of the sale, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $15,849,817.06. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jonathan Young sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $28.18, for a total value of $281,800.00. Following the transaction, the chief operating officer now directly owns 226,286 shares in the company, valued at $6,376,739.48. This represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 348,248 shares of company stock valued at $10,817,436 in the last 90 days. Insiders own 7.94% of the company’s stock.

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.