Zacks Investment Research Lowers Akero Therapeutics (NASDAQ:AKRO) to Sell

Posted by Andrew Walz on Dec 2nd, 2019

Zacks Investment Research lowered shares of Akero Therapeutics (NASDAQ:AKRO) from a hold rating to a sell rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Akero Therapeutics Inc. is a clinical-stage biotechnology company. It is focused on developing transformational treatments for non-alcoholic steatohepatitis and other serious metabolic disorders. The company’s product pipeline consists of AKR-001, for the treatment of non-alcoholic steatohepatitis, which are in clinical stage. Akero Therapeutics Inc. is based in San Francisco, United States. “

Shares of NASDAQ AKRO opened at $19.69 on Thursday. Akero Therapeutics has a 52 week low of $16.06 and a 52 week high of $30.30. The business has a fifty day moving average price of $20.27.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.13). As a group, analysts anticipate that Akero Therapeutics will post -2.95 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Griffin Asset Management Inc. purchased a new position in shares of Akero Therapeutics in the second quarter worth $25,000. Strs Ohio purchased a new position in shares of Akero Therapeutics in the third quarter worth $29,000. Tower Research Capital LLC TRC purchased a new position in shares of Akero Therapeutics in the second quarter worth $26,000. Victory Capital Management Inc. purchased a new position in shares of Akero Therapeutics in the second quarter worth $31,000. Finally, Barclays PLC purchased a new position in shares of Akero Therapeutics in the third quarter worth $61,000. 44.63% of the stock is currently owned by institutional investors.

About Akero Therapeutics

Akero Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development and commercialization of transformative treatments for serious metabolic diseases with high unmet medical need. Its lead product candidate is AKR-001, which completed Phase Ib clinical trial for the treatment of non-alcoholic steatohepatitis disease.

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