Akero Therapeutics, Inc. (NASDAQ:AKRO) Sees Significant Drop in Short Interest

Akero Therapeutics, Inc. (NASDAQ:AKRO) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 3,820,000 shares, a drop of 19.1% from the October 15th total of 4,720,000 shares. Based on an average daily volume of 512,300 shares, the short-interest ratio is currently 7.5 days.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Akero Therapeutics has an average rating of “Moderate Buy” and an average target price of $43.20.

Insider Transactions at Akero Therapeutics

In related news, 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 transaction, the insider now owns 74,158 shares of the company’s stock, valued at $2,419,033.96. This trade represents a 17.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cheng sold 1,738 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total transaction of $45,500.84. Following the transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at approximately $15,849,817.06. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,397 shares of company stock worth $12,997,971 in the last three months. Insiders own 7.94% of the company’s stock.

Institutional Trading of Akero Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its stake in Akero Therapeutics by 127.9% during the third quarter. Barclays PLC now owns 127,668 shares of the company’s stock worth $3,662,000 after acquiring an additional 71,652 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in Akero Therapeutics by 13.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company’s stock worth $485,000 after purchasing an additional 2,049 shares in the last quarter. XTX Topco Ltd bought a new position in Akero Therapeutics in the 3rd quarter valued at approximately $308,000. Wellington Management Group LLP boosted its position in Akero Therapeutics by 54.4% in the third quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock valued at $226,554,000 after buying an additional 2,782,029 shares in the last quarter. Finally, RTW Investments LP increased its holdings in shares of Akero Therapeutics by 9.0% during the third quarter. RTW Investments LP now owns 5,919,435 shares of the company’s stock worth $169,829,000 after buying an additional 487,450 shares in the last quarter.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO opened at $28.09 on Friday. The company has a quick ratio of 24.89, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a 12-month low of $13.86 and a 12-month high of $37.00. The company’s 50 day moving average price is $29.46 and its two-hundred day moving average price is $25.59. The firm has a market cap of $1.96 billion, a PE ratio of -7.49 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Equities research analysts predict that Akero Therapeutics will post -3.94 earnings per share for the current year.

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.