Akero Therapeutics, Inc. (NASDAQ:AKRO) Stock Holdings Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,549 shares of the company’s stock after selling 10,623 shares during the quarter. The Manufacturers Life Insurance Company owned 0.14% of Akero Therapeutics worth $2,770,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Algert Global LLC lifted its holdings in Akero Therapeutics by 8.3% in the third quarter. Algert Global LLC now owns 68,052 shares of the company’s stock worth $1,952,000 after purchasing an additional 5,191 shares during the period. Intech Investment Management LLC bought a new stake in shares of Akero Therapeutics during the 3rd quarter worth about $491,000. LMR Partners LLP lifted its stake in shares of Akero Therapeutics by 17.0% in the 3rd quarter. LMR Partners LLP now owns 20,597 shares of the company’s stock worth $591,000 after acquiring an additional 2,997 shares during the period. Simplify Asset Management Inc. boosted its holdings in shares of Akero Therapeutics by 15.6% in the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock valued at $8,141,000 after acquiring an additional 38,279 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Akero Therapeutics during the third quarter valued at approximately $211,000.

Analyst Ratings Changes

A number of research firms have weighed in on AKRO. Citigroup started coverage on Akero Therapeutics in a research report on Monday, November 18th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.83.

Akero Therapeutics Price Performance

NASDAQ AKRO opened at $31.11 on Monday. Akero Therapeutics, Inc. has a 1 year low of $15.32 and a 1 year high of $37.00. The business’s fifty day moving average is $30.66 and its two-hundred day moving average is $26.80. The stock has a market capitalization of $2.17 billion, a P/E ratio of -8.30 and a beta of -0.23. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

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

Insider Buying and Selling

In other news, insider Catriona Yale sold 3,871 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $27.56, for a total value of $106,684.76. Following the completion of the sale, the insider now owns 75,294 shares in the company, valued at $2,075,102.64. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total value of $45,500.84. Following the transaction, the chief executive officer now owns 605,417 shares in the company, valued at $15,849,817.06. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,248 shares of company stock valued at $11,940,986. 7.94% of the stock is owned by corporate insiders.

Akero Therapeutics 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.