Akero Therapeutics Target of Unusually High Options Trading (NASDAQ:AKRO)

Akero Therapeutics, Inc. (NASDAQ:AKRO) saw unusually large options trading on Monday. Stock traders acquired 3,105 call options on the stock. This represents an increase of 106% compared to the average volume of 1,508 call options.

Analysts Set New Price Targets

A number of research firms have issued reports on AKRO. HC Wainwright increased their price target on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Citigroup cut their price target on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Finally, Bank of America upped their target price on Akero Therapeutics from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $82.50.

Akero Therapeutics Trading Down 0.3%

NASDAQ AKRO opened at $54.52 on Wednesday. The firm has a market capitalization of $4.35 billion, a P/E ratio of -14.54 and a beta of -0.16. The business has a fifty day simple moving average of $42.85 and a 200 day simple moving average of $39.89. Akero Therapeutics has a 12 month low of $21.02 and a 12 month high of $58.40. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Monday, May 12th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $1.91. On average, analysts predict that Akero Therapeutics will post -3.99 EPS for the current fiscal year.

Insider Transactions at Akero Therapeutics

In related news, VP Patrick Lamy sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $50.00, for a total value of $200,000.00. Following the sale, the vice president now directly owns 33,492 shares in the company, valued at $1,674,600. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Timothy Rolph sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $35.88, for a total value of $224,250.00. Following the completion of the sale, the insider now owns 169,721 shares in the company, valued at $6,089,589.48. The trade was a 3.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,573 shares of company stock worth $7,295,205. Insiders own 7.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. grew its stake in shares of Akero Therapeutics by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,787 shares of the company’s stock worth $72,000 after acquiring an additional 321 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Akero Therapeutics by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,664 shares of the company’s stock worth $114,000 after acquiring an additional 338 shares during the period. PNC Financial Services Group Inc. boosted its stake in Akero Therapeutics by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,658 shares of the company’s stock worth $67,000 after purchasing an additional 390 shares during the period. Amalgamated Bank boosted its stake in Akero Therapeutics by 19.0% in the 1st quarter. Amalgamated Bank now owns 2,570 shares of the company’s stock worth $104,000 after purchasing an additional 410 shares during the period. Finally, Summit Investment Advisors Inc. boosted its stake in Akero Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock worth $197,000 after purchasing an additional 450 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.