Akero Therapeutics (NASDAQ:AKRO) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Akero Therapeutics (NASDAQ:AKRO) in a report released on Monday, MarketBeat reports. The brokerage issued a neutral rating and a $30.00 price target on the stock.

Several other research firms have also issued reports on AKRO. UBS Group raised their price target on Akero Therapeutics from $39.00 to $42.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. HC Wainwright raised their price target on Akero Therapeutics from $40.00 to $43.00 and gave the stock a buy rating in a research report on Friday, March 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $37.71.

Akero Therapeutics Stock Performance

Shares of NASDAQ AKRO opened at $18.93 on Monday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -6.64 and a beta of -0.38. The company has a current ratio of 29.27, a quick ratio of 29.27 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a 1-year low of $11.25 and a 1-year high of $58.38. The stock’s 50-day moving average is $24.68 and its 200 day moving average is $20.96.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.17). On average, sell-side analysts anticipate that Akero Therapeutics will post -3.93 EPS for the current fiscal year.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 75,000 shares of Akero Therapeutics stock in a transaction on Monday, March 4th. The stock was sold at an average price of $32.87, for a total transaction of $2,465,250.00. Following the completion of the transaction, the chief executive officer now owns 591,416 shares in the company, valued at $19,439,843.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Jonathan Young sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $24.38, for a total value of $121,900.00. Following the completion of the transaction, the chief operating officer now owns 263,306 shares in the company, valued at $6,419,400.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cheng sold 75,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $32.87, for a total value of $2,465,250.00. Following the completion of the transaction, the chief executive officer now owns 591,416 shares of the company’s stock, valued at approximately $19,439,843.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,646 shares of company stock worth $3,319,877. 9.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Akero Therapeutics in the fourth quarter worth $28,000. Quarry LP grew its holdings in shares of Akero Therapeutics by 40.0% in the fourth quarter. Quarry LP now owns 1,750 shares of the company’s stock worth $41,000 after acquiring an additional 500 shares during the period. Strs Ohio grew its holdings in Akero Therapeutics by 100.0% during the fourth quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $46,000 after purchasing an additional 1,000 shares during the period. Orion Capital Management LLC bought a new stake in Akero Therapeutics during the third quarter valued at about $51,000. Finally, Quest Partners LLC bought a new stake in Akero Therapeutics during the fourth quarter valued at about $75,000.

Akero Therapeutics Company 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.