Belpointe Asset Management LLC Buys Shares of 1,730 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Posted by Defense World Staff on May 20th, 2023

Belpointe Asset Management LLC purchased a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,730 shares of the company’s stock, valued at approximately $95,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank lifted its position in shares of Akero Therapeutics by 2.6% in the 4th quarter. Swiss National Bank now owns 71,000 shares of the company’s stock worth $3,891,000 after purchasing an additional 1,800 shares during the period. Arizona State Retirement System acquired a new position in Akero Therapeutics during the fourth quarter worth $455,000. Handelsbanken Fonder AB acquired a new position in Akero Therapeutics during the fourth quarter worth $378,000. TD Asset Management Inc grew its stake in shares of Akero Therapeutics by 174.1% in the 4th quarter. TD Asset Management Inc now owns 52,422 shares of the company’s stock worth $2,873,000 after acquiring an additional 33,300 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Akero Therapeutics by 490,476.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 103,021 shares of the company’s stock worth $5,646,000 after acquiring an additional 103,000 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

Insider Transactions at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 25,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $37.94, for a total transaction of $948,500.00. Following the completion of the transaction, the chief executive officer now owns 369,293 shares of the company’s stock, valued at $14,010,976.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 75,000 shares of company stock worth $3,241,500. Insiders own 10.38% of the company’s stock.

Wall Street Analyst Weigh In

AKRO has been the topic of several recent research reports. HC Wainwright dropped their price objective on shares of Akero Therapeutics from $64.00 to $62.00 in a report on Tuesday. Morgan Stanley raised shares of Akero Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $65.00 in a report on Friday, January 27th. Canaccord Genuity Group increased their price target on shares of Akero Therapeutics from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, March 21st. Finally, Lifesci Capital reissued an “outperform” rating on shares of Akero Therapeutics in a report on Tuesday, April 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Akero Therapeutics currently has a consensus rating of “Buy” and an average target price of $52.00.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $45.60 on Friday. Akero Therapeutics, Inc. has a one year low of $7.52 and a one year high of $54.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 20.83 and a quick ratio of 18.61. The firm’s 50 day simple moving average is $41.75 and its two-hundred day simple moving average is $44.21. The stock has a market capitalization of $2.28 billion, a P/E ratio of -16.70 and a beta of -0.94.

Akero Therapeutics Profile

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Akero Therapeutics, Inc is a clinical-stage company, which engages in the development of treatments for patients with serious metabolic diseases. 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.