Exome Asset Management LLC Makes New Investment in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Exome Asset Management LLC bought a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) during the 3rd quarter, HoldingsChannel reports. The firm bought 77,100 shares of the company’s stock, valued at approximately $2,212,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 worth $71,000 after buying an additional 446 shares during the last quarter. Eastern Bank acquired a new stake in shares of Akero Therapeutics in the third quarter worth approximately $100,000. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Akero Therapeutics during the third quarter worth approximately $205,000. Victory Capital Management Inc. acquired a new position in Akero Therapeutics in the 3rd quarter valued at $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Akero Therapeutics in the 3rd quarter valued at $265,000.

Insider Activity

In other Akero Therapeutics news, CEO Andrew Cheng sold 24,992 shares of Akero Therapeutics stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.14, for a total transaction of $778,250.88. Following the completion of the sale, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at $18,852,685.38. The trade was a 3.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Patrick Lamy sold 925 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the sale, the vice president now directly owns 17,858 shares in the company, valued at $549,847.82. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 398,584 shares of company stock worth $12,430,272. Corporate insiders own 7.94% of the company’s stock.

Akero Therapeutics Stock Performance

NASDAQ:AKRO opened at $28.89 on Friday. Akero Therapeutics, Inc. has a fifty-two week low of $15.32 and a fifty-two week high of $37.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The company has a 50 day moving average price of $30.81 and a 200 day moving average price of $27.08. The stock has a market capitalization of $2.02 billion, a P/E ratio of -7.70 and a beta of -0.23.

Akero Therapeutics (NASDAQ:AKRO) last announced its earnings results on Friday, November 8th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Equities research analysts forecast that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AKRO shares. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup assumed coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.83.

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.