Fmr LLC Acquires 26,691 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Fmr LLC boosted its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 732.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,337 shares of the company’s stock after acquiring an additional 26,691 shares during the quarter. Fmr LLC’s holdings in Akero Therapeutics were worth $870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AKRO. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after acquiring an additional 446 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Akero Therapeutics by 12.4% in 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 during the period. LMR Partners LLP boosted 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 valued at $591,000 after purchasing an additional 2,997 shares during the last quarter. Eastern Bank acquired a new stake in shares of Akero Therapeutics during the third quarter worth $100,000. Finally, Ensign Peak Advisors Inc increased its position in shares of Akero Therapeutics by 2.1% during the second quarter. Ensign Peak Advisors Inc now owns 237,494 shares of the company’s stock worth $5,572,000 after buying an additional 4,950 shares during the period.

Insider Activity

In related news, insider Catriona Yale sold 5,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $27.65, for a total value of $152,075.00. Following the transaction, the insider now owns 75,294 shares of the company’s stock, valued at approximately $2,081,879.10. This trade represents a 6.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 108,366 shares of Akero Therapeutics stock in a transaction dated 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 transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $19,209,881.41. This trade represents a 15.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 392,228 shares of company stock worth $12,255,200 over the last quarter. 7.94% of the stock is currently owned by corporate insiders.

Akero Therapeutics Trading Up 4.7 %

AKRO opened at $30.61 on Wednesday. The company has a fifty day moving average price of $30.91 and a two-hundred day moving average price of $27.35. Akero Therapeutics, Inc. has a 1-year low of $15.32 and a 1-year high of $37.00. The company has a market cap of $2.14 billion, a P/E ratio of -8.16 and a beta of -0.23. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last issued 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). Analysts predict that Akero Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AKRO has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research report on Monday, November 18th. Citigroup began coverage on Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.83.

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.