Akero Therapeutics (NASDAQ:AKRO) Shares Gap Up on Analyst Upgrade

Akero Therapeutics, Inc. (NASDAQ:AKRO) gapped up before the market opened on Tuesday after Canaccord Genuity Group raised their price target on the stock from $56.00 to $73.00. The stock had previously closed at $51.71, but opened at $54.63. Canaccord Genuity Group currently has a buy rating on the stock. Akero Therapeutics shares last traded at $55.10, with a volume of 920,635 shares.

Several other research firms have also weighed in on AKRO. Citigroup upped their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright raised their price objective on shares of Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.83.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, insider Catriona Yale sold 9,061 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $27.73, for a total transaction of $251,261.53. Following the completion of the transaction, the insider now owns 74,158 shares in the company, valued at approximately $2,056,401.34. This represents a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Richard White sold 2,817 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total transaction of $86,735.43. Following the completion of the sale, the chief financial officer now owns 38,335 shares in the company, valued at $1,180,334.65. This trade represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 262,135 shares of company stock worth $8,223,000. Corporate insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AKRO. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Akero Therapeutics by 21.6% during the third 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 in the last quarter. Eastern Bank acquired a new stake in Akero Therapeutics in the 3rd quarter worth about $100,000. Summit Financial Wealth Advisors LLC bought a new stake in Akero Therapeutics in the 3rd quarter valued at about $205,000. Victory Capital Management Inc. acquired a new position in shares of Akero Therapeutics during the 3rd quarter worth approximately $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Akero Therapeutics during the third quarter worth approximately $265,000.

Akero Therapeutics Trading Up 6.2 %

The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -14.60 and a beta of -0.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The business’s 50-day moving average price is $28.47 and its two-hundred day moving average price is $28.14.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data 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 predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current year.

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.