Akero Therapeutics, Inc. (NASDAQ:AKRO) is Propel Bio Management LLC’s 6th Largest Position

Propel Bio Management LLC grew its position in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,729 shares of the company’s stock after buying an additional 15,977 shares during the quarter. Akero Therapeutics accounts for 5.7% of Propel Bio Management LLC’s holdings, making the stock its 6th largest holding. Propel Bio Management LLC owned approximately 0.49% of Akero Therapeutics worth $9,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Akero Therapeutics by 19.0% in the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after purchasing an additional 584,875 shares during the period. Long Focus Capital Management LLC lifted its holdings in Akero Therapeutics by 119.0% during the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock worth $16,882,000 after buying an additional 391,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Akero Therapeutics by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company’s stock worth $102,569,000 after buying an additional 384,555 shares in the last quarter. Perceptive Advisors LLC boosted its position in Akero Therapeutics by 8.1% in the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock valued at $35,188,000 after buying an additional 112,426 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Akero Therapeutics by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock worth $5,894,000 after acquiring an additional 61,988 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on AKRO. Citigroup started coverage on Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Akero Therapeutics in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Akero Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $46.83.

Akero Therapeutics Trading Up 0.4 %

AKRO opened at $31.90 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. Akero Therapeutics, Inc. has a one year low of $15.32 and a one year high of $37.00. The company has a market cap of $2.23 billion, a P/E ratio of -8.47 and a beta of -0.26. The business’s 50-day simple moving average is $30.05 and its 200-day simple moving average is $26.10.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). As a group, equities research analysts expect that Akero Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Insider Activity

In other news, CEO Andrew Cheng sold 1,738 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total value of $45,500.84. Following the completion of the sale, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at approximately $15,849,817.06. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Catriona Yale sold 3,871 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $27.56, for a total value of $106,684.76. Following the transaction, the insider now owns 75,294 shares in the company, valued at $2,075,102.64. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,248 shares of company stock worth $10,817,436. Corporate insiders own 7.94% of the company’s stock.

About Akero Therapeutics

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.