Akero Therapeutics (NASDAQ:AKRO) Reaches New 12-Month High – Time to Buy?

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) reached a new 52-week high during trading on Monday . The stock traded as high as $57.26 and last traded at $54.12, with a volume of 5442847 shares changing hands. The stock had previously closed at $26.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AKRO shares. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research note on Thursday, January 16th. Citigroup initiated coverage on Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Akero Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.83.

Akero Therapeutics Stock Up 104.4 %

The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -14.45 and a beta of -0.19. The business has a fifty day simple moving average of $28.47 and a two-hundred day simple moving average of $28.14. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

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

Insider Buying and Selling

In related news, COO Jonathan Young sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the completion of the sale, the chief operating officer now directly owns 218,083 shares in the company, valued at $6,112,866.49. The trade was a 4.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Catriona Yale sold 4,515 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.53, for a total transaction of $146,872.95. Following the transaction, the insider now owns 74,158 shares in the company, valued at approximately $2,412,359.74. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,135 shares of company stock worth $8,223,000. Corporate insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Simplify Asset Management Inc. increased its position in Akero Therapeutics by 15.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock valued at $8,141,000 after buying an additional 38,279 shares in the last quarter. Perceptive Advisors LLC increased its stake 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 last quarter. FMR LLC lifted its holdings in Akero Therapeutics by 732.1% during the third quarter. FMR LLC now owns 30,337 shares of the company’s stock worth $870,000 after acquiring an additional 26,691 shares during the period. SG Americas Securities LLC raised its stake in shares of Akero Therapeutics by 4,022.1% during the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after purchasing an additional 583,486 shares during the period. Finally, Barclays PLC grew its position in shares of Akero Therapeutics by 127.9% during the 3rd quarter. Barclays PLC now owns 127,668 shares of the company’s stock valued at $3,662,000 after acquiring an additional 71,652 shares during the period.

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.