Akero Therapeutics, Inc. (NASDAQ:AKRO) Sees Large Increase in Short Interest

Akero Therapeutics, Inc. (NASDAQ:AKRO) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 3,630,000 shares, a growth of 8.4% from the January 15th total of 3,350,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is presently 3.2 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AKRO. HC Wainwright upped their price target on Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group upped their price target on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Bank of America upgraded Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Citigroup upped their price target on Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group upped their price target on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Akero Therapeutics presently has an average rating of “Buy” and a consensus target price of $75.86.

Akero Therapeutics Price Performance

AKRO stock opened at $50.52 on Monday. 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 has a 1 year low of $17.86 and a 1 year high of $58.40. The firm has a market cap of $3.53 billion, a P/E ratio of -13.47 and a beta of -0.11. The stock has a 50-day simple moving average of $34.96 and a 200-day simple moving average of $30.85.

Insider Buying and Selling

In related news, VP Patrick Lamy sold 5,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $57.03, for a total transaction of $285,150.00. Following the transaction, the vice president now directly owns 33,492 shares in the company, valued at approximately $1,910,048.76. This represents a 12.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Cheng sold 25,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $32.09, for a total value of $802,250.00. Following the transaction, the chief executive officer now owns 605,417 shares in the company, valued at $19,427,831.53. This trade represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,992 shares of company stock worth $9,134,713. 7.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Akero Therapeutics

Large investors have recently modified their holdings of the stock. Creative Planning acquired a new stake in Akero Therapeutics during the 3rd quarter valued at approximately $371,000. Eastern Bank acquired a new stake in Akero Therapeutics during the 3rd quarter valued at approximately $100,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after purchasing an additional 446 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Akero Therapeutics by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,354 shares of the company’s stock valued at $383,000 after purchasing an additional 5,230 shares in the last quarter. Finally, Emerald Advisers LLC grew its stake in Akero Therapeutics by 1.8% during the 3rd 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 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.