Geode Capital Management LLC Has $45.08 Million Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Geode Capital Management LLC lowered its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,571,012 shares of the company’s stock after selling 48,027 shares during the quarter. Geode Capital Management LLC owned approximately 2.25% of Akero Therapeutics worth $45,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $71,000 after acquiring an additional 446 shares in the last quarter. Eastern Bank purchased a new position in Akero Therapeutics during the 3rd quarter worth approximately $100,000. Summit Financial Wealth Advisors LLC acquired a new stake in Akero Therapeutics during the 3rd quarter valued at $205,000. Victory Capital Management Inc. purchased a new stake in shares of Akero Therapeutics in the third quarter valued at $211,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Akero Therapeutics in the third quarter valued at $265,000.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 24,992 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $31.14, for a total transaction of $778,250.88. Following the completion of the sale, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $18,852,685.38. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Catriona Yale sold 15,485 shares of Akero Therapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $32.62, for a total transaction of $505,120.70. Following the completion of the transaction, the insider now directly owns 74,158 shares in the company, valued at approximately $2,419,033.96. This represents a 17.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 396,802 shares of company stock worth $12,396,400 over the last three months. Corporate insiders own 7.94% of the company’s stock.

Akero Therapeutics Trading Down 3.3 %

Shares of NASDAQ AKRO opened at $28.37 on Tuesday. The business has a 50 day simple moving average of $30.89 and a 200 day simple moving average of $27.54. Akero Therapeutics, Inc. has a 52 week low of $15.32 and a 52 week high of $37.00. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -7.57 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 announced its quarterly earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, research analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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