Bank of New York Mellon Corp Cuts Stock Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Bank of New York Mellon Corp lessened its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,430 shares of the company’s stock after selling 6,414 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of Akero Therapeutics worth $5,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AKRO. Summit Financial Wealth Advisors LLC purchased a new stake in Akero Therapeutics during the 3rd quarter worth about $205,000. Victory Capital Management Inc. acquired a new position in Akero Therapeutics during the third quarter worth approximately $211,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Akero Therapeutics in the third quarter valued at approximately $265,000. XTX Topco Ltd purchased a new stake in Akero Therapeutics in the third quarter valued at approximately $308,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Akero Therapeutics by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock worth $412,000 after purchasing an additional 1,446 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on AKRO. 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. HC Wainwright upped their target price on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Citigroup increased their price objective on Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. UBS Group increased their price objective on Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Morgan Stanley restated an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $76.29.

Akero Therapeutics Stock Down 1.6 %

Shares of NASDAQ:AKRO opened at $44.15 on Monday. The stock has a 50-day simple moving average of $42.10 and a 200-day simple moving average of $33.89. The stock has a market capitalization of $3.52 billion, a P/E ratio of -11.77 and a beta of -0.19. 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, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Equities analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Insider Buying and Selling at Akero Therapeutics

In other news, CFO William Richard White sold 676 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $44.88, for a total value of $30,338.88. Following the completion of the sale, the chief financial officer now directly owns 61,959 shares in the company, valued at approximately $2,780,719.92. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Young sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the transaction, the chief operating officer now owns 218,083 shares of the company’s stock, valued at approximately $6,112,866.49. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 242,135 shares of company stock valued at $11,897,479 in the last three months. Corporate 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.