Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Free Report) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $44.61, but opened at $46.11. Akero Therapeutics shares last traded at $47.50, with a volume of 73,782 shares trading hands.
Specifically, Director G. Walmsley Graham acquired 120,000 shares of Akero Therapeutics stock in a transaction that occurred on Friday, May 19th. The shares were bought at an average cost of $42.00 per share, with a total value of $5,040,000.00. Following the transaction, the director now directly owns 520,000 shares of the company’s stock, valued at approximately $21,840,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Timothy Rolph sold 509 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $55.16, for a total transaction of $28,076.44. Following the transaction, the insider now directly owns 189,420 shares of the company’s stock, valued at $10,448,407.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director G. Walmsley Graham bought 120,000 shares of Akero Therapeutics stock in a transaction dated Friday, May 19th. The shares were bought at an average cost of $42.00 per share, for a total transaction of $5,040,000.00. Following the completion of the transaction, the director now owns 520,000 shares of the company’s stock, valued at approximately $21,840,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 200,000 shares of company stock valued at $8,453,700 and have sold 200,592 shares valued at $10,429,062. 9.69% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Separately, HC Wainwright raised their target price on shares of Akero Therapeutics from $62.00 to $64.00 in a research report on Wednesday, June 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $52.40.
Akero Therapeutics Trading Up 6.6 %
The company has a market capitalization of $2.38 billion, a PE ratio of -17.42 and a beta of -0.93. The company’s fifty day moving average is $47.08 and its 200-day moving average is $44.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 20.83 and a quick ratio of 20.84.
Akero Therapeutics (NASDAQ:AKRO – Get Free Report) last issued its quarterly earnings data on Monday, May 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.07. On average, analysts anticipate that Akero Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.
Hedge Funds Weigh In On Akero Therapeutics
Institutional investors have recently bought and sold shares of the business. General Atlantic L.P. acquired a new stake in Akero Therapeutics in the second quarter valued at approximately $83,375,000. FMR LLC boosted its stake in Akero Therapeutics by 5,491.5% in the first quarter. FMR LLC now owns 1,141,285 shares of the company’s stock valued at $43,666,000 after acquiring an additional 1,120,874 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Akero Therapeutics by 221.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,462,424 shares of the company’s stock valued at $49,797,000 after acquiring an additional 1,007,122 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Akero Therapeutics by 70.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,863,604 shares of the company’s stock valued at $17,612,000 after acquiring an additional 770,924 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Akero Therapeutics by 100.2% in the fourth quarter. Marshall Wace LLP now owns 1,503,364 shares of the company’s stock valued at $82,384,000 after acquiring an additional 752,524 shares in the last quarter. 95.40% of the stock is owned by hedge funds and other institutional investors.
Akero Therapeutics Company Profile
Akero Therapeutics, Inc, a clinical-stage company, engages in the development of transformational treatments for patients with serious metabolic diseases, including non-alcoholic steatohepatitis (NASH), a disease without any approved therapies. Its lead product candidate is efruxifermin (EFX), an analog of fibroblast growth factor 21, which protects against cellular stress and regulates metabolism of lipids, carbohydrates, and proteins throughout the body.
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