KLP Kapitalforvaltning AS Trims Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

KLP Kapitalforvaltning AS lessened its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,600 shares of the company’s stock after selling 1,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Akero Therapeutics were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Akero Therapeutics during the 1st quarter worth approximately $463,000. Allianz Asset Management GmbH purchased a new position in shares of Akero Therapeutics during the 1st quarter worth approximately $518,000. Jennison Associates LLC purchased a new position in shares of Akero Therapeutics during the 1st quarter worth approximately $533,000. Victory Capital Management Inc. grew its holdings in shares of Akero Therapeutics by 385.4% during the 1st quarter. Victory Capital Management Inc. now owns 35,116 shares of the company’s stock worth $1,421,000 after acquiring an additional 27,881 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Akero Therapeutics during the 1st quarter worth approximately $281,000.

Analyst Ratings Changes

AKRO has been the topic of a number of analyst reports. Bank of America boosted their price target on Akero Therapeutics from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Citigroup dropped their price target on Akero Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $82.50.

Akero Therapeutics Stock Performance

AKRO stock opened at $47.72 on Thursday. The stock has a market capitalization of $3.80 billion, a PE ratio of -24.47 and a beta of -0.15. Akero Therapeutics, Inc. has a 12-month low of $21.34 and a 12-month high of $58.40. The company has a current ratio of 16.80, a quick ratio of 16.80 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $52.00 and its 200 day simple moving average is $45.62.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings data on Monday, May 12th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $1.91. As a group, research analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

Insider Activity at Akero Therapeutics

In related news, CEO Andrew Cheng sold 37,837 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $54.05, for a total value of $2,045,089.85. Following the transaction, the chief executive officer directly owned 556,487 shares of the company’s stock, valued at approximately $30,078,122.35. This represents a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Rolph sold 25,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $55.04, for a total value of $1,376,000.00. Following the transaction, the insider directly owned 169,721 shares in the company, valued at $9,341,443.84. The trade was a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,906 shares of company stock valued at $11,862,790. 7.07% of the stock is owned by corporate insiders.

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.