Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Free Report)’s stock price was up 5.8% during trading on Tuesday . The stock traded as high as $31.47 and last traded at $31.44. Approximately 85,791 shares traded hands during trading, a decline of 90% from the average daily volume of 873,853 shares. The stock had previously closed at $29.71.
Analysts Set New Price Targets
Separately, HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Akero Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $43.20.
Check Out Our Latest Report on Akero Therapeutics
Akero Therapeutics Trading Down 3.2 %
Akero Therapeutics (NASDAQ:AKRO – Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.09. On average, analysts predict that Akero Therapeutics, Inc. will post -3.64 earnings per share for the current year.
Insider Activity
In related news, CEO Andrew Cheng sold 63,539 shares of Akero Therapeutics stock in a transaction on Friday, October 18th. The shares were sold at an average price of $31.53, for a total value of $2,003,384.67. Following the completion of the sale, the chief executive officer now owns 605,417 shares in the company, valued at approximately $19,088,798.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Akero Therapeutics news, insider Catriona Yale sold 5,200 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $27.51, for a total transaction of $143,052.00. Following the sale, the insider now owns 75,931 shares in the company, valued at $2,088,861.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Cheng sold 63,539 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $31.53, for a total value of $2,003,384.67. Following the transaction, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,088,798.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 249,315 shares of company stock worth $7,306,420. 7.94% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Akero Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Akero Therapeutics by 15.6% during the first quarter. Principal Financial Group Inc. now owns 13,766 shares of the company’s stock valued at $348,000 after purchasing an additional 1,858 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Akero Therapeutics during the 1st quarter valued at about $2,205,000. Swiss National Bank raised its stake in Akero Therapeutics by 19.9% during the first quarter. Swiss National Bank now owns 105,000 shares of the company’s stock worth $2,652,000 after acquiring an additional 17,400 shares during the period. Headlands Technologies LLC lifted its holdings in Akero Therapeutics by 253.5% in the first quarter. Headlands Technologies LLC now owns 4,217 shares of the company’s stock worth $107,000 after acquiring an additional 3,024 shares during the last quarter. Finally, 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 during the period.
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.
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