Akero Therapeutics (NASDAQ:AKRO) Shares Up 3.5% – Time to Buy?

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s share price shot up 3.5% during trading on Tuesday . The company traded as high as $30.38 and last traded at $30.24. 37,616 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 839,792 shares. The stock had previously closed at $29.23.

Analyst Upgrades and Downgrades

AKRO has been the subject of several recent research reports. Citigroup started coverage on Akero Therapeutics in a report on Monday, November 18th. They set a “buy” rating and a $65.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research note on Monday, November 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Akero Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

Akero Therapeutics Trading Down 6.2 %

The stock has a market capitalization of $2.00 billion, a PE ratio of -7.66 and a beta of -0.23. The firm has a 50 day moving average price of $30.91 and a 200 day moving average price of $27.36. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last posted 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 analysts expect that Akero Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Catriona Yale sold 15,485 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 74,158 shares in the company, valued at approximately $2,419,033.96. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jonathan Young sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $28.18, for a total transaction of $281,800.00. Following the completion of the transaction, the chief operating officer now owns 226,286 shares in the company, valued at approximately $6,376,739.48. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 402,302 shares of company stock valued at $12,548,475 in the last 90 days. 7.94% of the stock is currently owned by corporate insiders.

Institutional Trading of Akero Therapeutics

A number of large investors have recently bought and sold shares of AKRO. Wellington Management Group LLP increased its holdings in Akero Therapeutics by 54.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company’s stock worth $226,554,000 after acquiring an additional 2,782,029 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Akero Therapeutics during the third quarter worth about $37,392,000. RTW Investments LP increased its stake in shares of Akero Therapeutics by 9.0% in the third quarter. RTW Investments LP now owns 5,919,435 shares of the company’s stock worth $169,829,000 after purchasing an additional 487,450 shares in the last quarter. Long Focus Capital Management LLC raised its position in shares of Akero Therapeutics by 119.0% in the second quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock valued at $16,882,000 after purchasing an additional 391,000 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Akero Therapeutics by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company’s stock valued at $203,053,000 after buying an additional 201,225 shares in the last quarter.

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.