Summit Financial Wealth Advisors LLC Acquires Shares of 7,155 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Summit Financial Wealth Advisors LLC bought a new position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,155 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Akero Therapeutics by 2,366.0% in the first quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $31,000 after buying an additional 1,183 shares in the last quarter. 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 worth $92,702,000 after buying an additional 584,875 shares during the last quarter. American International Group Inc. grew its stake in shares of Akero Therapeutics by 18.9% during the 1st quarter. American International Group Inc. now owns 30,326 shares of the company’s stock worth $766,000 after purchasing an additional 4,812 shares during the period. Price T Rowe Associates Inc. MD grew its position in Akero Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company’s stock valued at $102,569,000 after buying an additional 384,555 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Akero Therapeutics by 12.7% during the 1st quarter. California State Teachers Retirement System now owns 54,185 shares of the company’s stock valued at $1,369,000 after acquiring an additional 6,113 shares during the period.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider Catriona Yale sold 9,061 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $27.73, for a total value of $251,261.53. Following the transaction, the insider now owns 74,158 shares of the company’s stock, valued at approximately $2,056,401.34. This trade represents a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the chief executive officer now owns 605,417 shares in the company, valued at approximately $15,849,817.06. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,248 shares of company stock valued at $10,817,436. Insiders own 7.94% of the company’s stock.

Akero Therapeutics Price Performance

Akero Therapeutics stock opened at $31.77 on Tuesday. Akero Therapeutics, Inc. has a 12 month low of $15.32 and a 12 month high of $37.00. The stock has a market capitalization of $2.22 billion, a PE ratio of -8.47 and a beta of -0.26. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The business has a 50 day simple moving average of $30.05 and a 200-day simple moving average of $26.10.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). Equities analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current year.

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.