Oppenheimer & Co. Inc. Takes Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Oppenheimer & Co. Inc. bought a new stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) in the 1st quarter, Holdings Channel.com reports. The firm bought 7,330 shares of the company’s stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Investment Advisors Inc. lifted its position in shares of Akero Therapeutics by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,092 shares of the company’s stock valued at $197,000 after buying an additional 450 shares during the last quarter. Hsbc Holdings PLC raised its stake in Akero Therapeutics by 8.5% in the 4th quarter. Hsbc Holdings PLC now owns 7,886 shares of the company’s stock valued at $220,000 after acquiring an additional 621 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Akero Therapeutics by 1.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,442 shares of the company’s stock valued at $1,153,000 after acquiring an additional 637 shares during the period. Swiss National Bank lifted its holdings in Akero Therapeutics by 1.2% during the 4th quarter. Swiss National Bank now owns 95,600 shares of the company’s stock valued at $2,660,000 after purchasing an additional 1,100 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in Akero Therapeutics during the fourth quarter worth $41,000.

Analyst Upgrades and Downgrades

AKRO has been the topic of several research analyst reports. Citigroup dropped their price objective on shares of Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Bank of America increased their price target on shares of Akero Therapeutics from $63.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Six research 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.

Insider Buying and Selling at Akero Therapeutics

In related news, CEO Andrew Cheng sold 37,837 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total transaction of $2,045,089.85. Following the sale, the chief executive officer owned 556,487 shares of the company’s stock, valued at $30,078,122.35. This represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Catriona Yale sold 10,000 shares of Akero Therapeutics stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $39.30, for a total value of $393,000.00. Following the completion of the transaction, the insider directly owned 95,034 shares of the company’s stock, valued at $3,734,836.20. This represents a 9.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,979 shares of company stock worth $10,935,650. 7.07% of the stock is currently owned by company insiders.

Akero Therapeutics Stock Up 0.9%

AKRO stock opened at $51.88 on Thursday. The business’s fifty day moving average price is $48.44 and its two-hundred day moving average price is $42.41. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -26.60 and a beta of -0.15. Akero Therapeutics, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $58.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.80 and a quick ratio of 16.80.

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

Akero Therapeutics 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.