Trexquant Investment LP Buys 23,658 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

Posted by Defense World Staff on Mar 13th, 2023

Trexquant Investment LP lifted its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Rating) by 135.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,167 shares of the company’s stock after purchasing an additional 23,658 shares during the quarter. Trexquant Investment LP owned 0.09% of Akero Therapeutics worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yiheng Capital Management L.P. boosted its position in Akero Therapeutics by 21.2% during the 2nd quarter. Yiheng Capital Management L.P. now owns 1,882,698 shares of the company’s stock worth $17,792,000 after buying an additional 329,708 shares during the period. Jump Financial LLC acquired a new stake in Akero Therapeutics during the 3rd quarter worth approximately $350,000. Altium Capital Management LP acquired a new stake in Akero Therapeutics during the 3rd quarter worth approximately $4,767,000. Tri Locum Partners LP acquired a new stake in Akero Therapeutics during the 3rd quarter worth approximately $7,125,000. Finally, Logos Global Management LP acquired a new stake in Akero Therapeutics during the 3rd quarter worth approximately $13,620,000. 97.76% of the stock is owned by institutional investors.

Akero Therapeutics Stock Down 5.7 %

Shares of NASDAQ AKRO opened at $41.35 on Monday. The company has a market capitalization of $1.93 billion, a P/E ratio of -12.31 and a beta of -0.91. Akero Therapeutics, Inc. has a 52-week low of $7.52 and a 52-week high of $54.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.97 and a current ratio of 14.97. The company’s 50 day moving average price is $46.51 and its 200-day moving average price is $39.91.

Insider Transactions at Akero Therapeutics

In other news, COO Jonathan Young sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $49.57, for a total value of $619,625.00. Following the transaction, the chief operating officer now owns 182,449 shares in the company, valued at approximately $9,043,996.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO William Richard White sold 999 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were sold at an average price of $49.76, for a total transaction of $49,710.24. Following the transaction, the chief financial officer now owns 23,624 shares in the company, valued at approximately $1,175,530.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Young sold 12,500 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $49.57, for a total transaction of $619,625.00. Following the transaction, the chief operating officer now owns 182,449 shares in the company, valued at approximately $9,043,996.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,976 shares of company stock worth $5,161,061. Company insiders own 10.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upgraded shares of Akero Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $65.00 in a research report on Friday, January 27th.

Akero Therapeutics Company Profile

(Get Rating)

Akero Therapeutics, Inc operates as a cardio-metabolic nonalcoholic steatohepatitis company, which engages in developing pioneering medicines designed to restore metabolic balance and improve overall health. The firm’s lead product candidate, efruxifermin (EFX), is an analog of fibroblast growth factor 21, or FGF21, which is an endogenously expressed hormone that protects against cellular stress and regulates metabolism of lipids, carbohydrates and proteins throughout the body.