Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 488,046 shares of the company’s stock after selling 54,221 shares during the quarter. JPMorgan Chase & Co. owned about 0.70% of Akero Therapeutics worth $14,002,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AKRO. Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 446 shares during the last quarter. Eastern Bank acquired a new stake in Akero Therapeutics in the 3rd quarter valued at approximately $100,000. Summit Financial Wealth Advisors LLC purchased a new stake in Akero Therapeutics in the third quarter valued at approximately $205,000. Victory Capital Management Inc. acquired a new position in Akero Therapeutics during the third quarter worth $211,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Akero Therapeutics during the third quarter worth $265,000.

Insiders Place Their Bets

In related news, insider Catriona Yale sold 9,061 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.73, for a total transaction of $251,261.53. Following the completion of the sale, the insider now owns 74,158 shares in the company, valued at $2,056,401.34. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Young sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $28.03, for a total transaction of $280,300.00. Following the completion of the transaction, the chief operating officer now owns 218,083 shares in the company, valued at $6,112,866.49. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 396,802 shares of company stock worth $12,394,900 in the last 90 days. Corporate insiders own 7.94% of the company’s stock.

Akero Therapeutics Trading Down 5.0 %

AKRO opened at $24.84 on Friday. The business has a fifty day moving average price of $30.06 and a 200 day moving average price of $27.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. Akero Therapeutics, Inc. has a 12 month low of $15.32 and a 12 month high of $37.00. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -6.62 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Sell-side analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AKRO shares. Citigroup initiated coverage on Akero Therapeutics in a report on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.83.

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.