Citigroup Begins Coverage on Akero Therapeutics (NASDAQ:AKRO)

Equities research analysts at Citigroup initiated coverage on shares of Akero Therapeutics (NASDAQ:AKRO) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $65.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 131.40% from the stock’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 11th. One equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.83.

Akero Therapeutics Trading Down 5.6 %

Shares of AKRO stock opened at $28.09 on Monday. Akero Therapeutics has a fifty-two week low of $13.86 and a fifty-two week high of $37.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 24.89 and a current ratio of 17.25. The stock’s fifty day moving average is $29.46 and its two-hundred day moving average is $25.67. The firm has a market capitalization of $1.96 billion, a P/E ratio of -7.49 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). Research analysts expect that Akero Therapeutics will post -3.96 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Catriona Yale sold 5,200 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $27.51, for a total value of $143,052.00. Following the transaction, the insider now directly owns 75,931 shares in the company, valued at approximately $2,088,861.81. This represents a 6.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William Richard White sold 75,159 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the transaction, the chief financial officer now directly owns 41,791 shares of the company’s stock, valued at $1,137,133.11. The trade was a 64.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 428,397 shares of company stock valued at $12,997,971. 7.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its holdings 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 purchasing an additional 1,183 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Akero Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock valued at $71,000 after buying an additional 446 shares during the period. Eastern Bank acquired a new position in shares of Akero Therapeutics during the third quarter worth about $100,000. Ameritas Investment Partners Inc. grew its position in shares of Akero Therapeutics by 20.0% during the first quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock worth $156,000 after buying an additional 1,030 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC purchased a new stake in shares of Akero Therapeutics during the third quarter worth approximately $205,000.

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.