Akero Therapeutics (NASDAQ:AKRO) Stock Price Down 4.1%

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s stock price was down 4.1% during trading on Friday . The company traded as low as $22.40 and last traded at $22.43. Approximately 173,492 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,072,343 shares. The stock had previously closed at $23.40.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AKRO shares. 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 report on Wednesday, May 15th. Canaccord Genuity Group lowered their price target 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 increased their price target on shares of Akero Therapeutics from $39.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Akero Therapeutics in a report on Thursday, June 20th. Finally, Bank of America initiated coverage on shares of Akero Therapeutics in a research report on Monday, April 22nd. They issued a “neutral” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.13.

Akero Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 30.12 and a quick ratio of 30.12. The stock’s 50-day moving average is $20.93 and its two-hundred day moving average is $22.61.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, May 10th. The company reported ($0.90) EPS for the quarter, hitting analysts’ consensus estimates of ($0.90). Sell-side analysts expect that Akero Therapeutics, Inc. will post -3.82 EPS for the current fiscal year.

Insider Transactions at Akero Therapeutics

In other news, COO Jonathan Young sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $19.29, for a total transaction of $96,450.00. Following the transaction, the chief operating officer now directly owns 253,306 shares of the company’s stock, valued at $4,886,272.74. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Andrew Cheng sold 7,894 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $22.64, for a total transaction of $178,720.16. Following the transaction, the chief executive officer now directly owns 581,553 shares of the company’s stock, valued at $13,166,359.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jonathan Young sold 5,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $19.29, for a total transaction of $96,450.00. Following the transaction, the chief operating officer now directly owns 253,306 shares in the company, valued at $4,886,272.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,635 shares of company stock valued at $695,716. 7.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in Akero Therapeutics during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. boosted its stake in Akero Therapeutics by 2,366.0% in the first quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $31,000 after acquiring an additional 1,183 shares in the last quarter. Quarry LP boosted its stake in Akero Therapeutics by 40.0% in the fourth quarter. Quarry LP now owns 1,750 shares of the company’s stock valued at $41,000 after acquiring an additional 500 shares in the last quarter. Strs Ohio boosted its stake in Akero Therapeutics by 100.0% in the fourth quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Akero Therapeutics in the third quarter valued at approximately $51,000.

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.