Akero Therapeutics (NASDAQ:AKRO) Shares Down 7.1%

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) fell 7.1% during trading on Thursday . The stock traded as low as $19.05 and last traded at $19.05. 146,135 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,110,240 shares. The stock had previously closed at $20.50.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AKRO shares. Bank of America initiated coverage on Akero Therapeutics in a research note on Monday, April 22nd. They set a “neutral” rating and a $30.00 price target for the company. Canaccord Genuity Group decreased their price objective on shares of Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 13th. UBS Group upped their price target on Akero Therapeutics from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Evercore ISI lowered their price target on shares of Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, May 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.13.

Akero Therapeutics Stock Performance

The company’s fifty day moving average price is $21.89 and its two-hundred day moving average price is $21.71. The company has a quick ratio of 30.12, a current ratio of 30.12 and a debt-to-equity ratio of 0.04.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Thursday, February 29th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.17). Analysts expect that Akero Therapeutics, Inc. will post -3.87 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jonathan Young sold 5,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $24.38, for a total transaction of $121,900.00. Following the sale, the chief operating officer now directly owns 263,306 shares in the company, valued at $6,419,400.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Akero Therapeutics news, COO Jonathan Young sold 5,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $24.38, for a total value of $121,900.00. Following the completion of the sale, the chief operating officer now owns 263,306 shares in the company, valued at approximately $6,419,400.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Catriona Yale sold 20,646 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.49, for a total value of $732,726.54. Following the sale, the insider now directly owns 78,415 shares in the company, valued at $2,782,948.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,646 shares of company stock valued at $3,420,627. 7.94% of the stock is owned by company insiders.

Institutional Trading of Akero Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in AKRO. Janus Henderson Group PLC raised its position in Akero Therapeutics by 42.2% during the first quarter. Janus Henderson Group PLC now owns 6,121,970 shares of the company’s stock valued at $154,589,000 after acquiring an additional 1,815,569 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Akero Therapeutics by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company’s stock valued at $102,569,000 after purchasing an additional 384,555 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Akero Therapeutics by 8.7% in the third quarter. Alkeon Capital Management LLC now owns 3,767,380 shares of the company’s stock valued at $190,554,000 after purchasing an additional 300,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Akero Therapeutics by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after acquiring an additional 584,875 shares during the period. Finally, RTW Investments LP acquired a new stake in shares of Akero Therapeutics during the fourth quarter worth $83,891,000.

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.