Akero Therapeutics (NASDAQ:AKRO) Shares Gap Down to $19.22

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) gapped down prior to trading on Wednesday . The stock had previously closed at $19.22, but opened at $17.98. Akero Therapeutics shares last traded at $18.61, with a volume of 232,289 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on AKRO shares. UBS Group raised their target price on Akero Therapeutics from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Evercore ISI lowered their target price on Akero Therapeutics from $50.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Canaccord Genuity Group lowered their target price on Akero Therapeutics from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Bank of America started coverage on Akero Therapeutics in a research report on Monday, April 22nd. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.13.

Akero Therapeutics Trading Down 0.5 %

The business has a 50 day simple moving average of $20.98 and a 200-day simple moving average of $22.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 30.12 and a current ratio of 30.12. The stock has a market capitalization of $1.32 billion, a P/E ratio of -6.01 and a beta of -0.31.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.90) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.90). On average, analysts predict that Akero Therapeutics, Inc. will post -3.87 EPS for the current year.

Insider Transactions at Akero Therapeutics

In other news, COO Jonathan Young sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $20.15, for a total transaction of $100,750.00. Following the completion of the sale, the chief operating officer now directly owns 258,306 shares of the company’s stock, valued at approximately $5,204,865.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.94% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

Large investors have recently modified their holdings of the stock. abrdn plc acquired a new stake in shares of Akero Therapeutics in the fourth quarter worth $1,671,000. Vanguard Group Inc. boosted its position in shares of Akero Therapeutics by 12.1% in the third quarter. Vanguard Group Inc. now owns 3,012,182 shares of the company’s stock worth $152,356,000 after buying an additional 326,308 shares during the period. FMR LLC boosted its position in shares of Akero Therapeutics by 6.3% in the third quarter. FMR LLC now owns 2,750,348 shares of the company’s stock worth $139,113,000 after buying an additional 162,820 shares during the period. Alkeon Capital Management LLC boosted its position in shares of Akero Therapeutics by 8.7% in the third quarter. Alkeon Capital Management LLC now owns 3,767,380 shares of the company’s stock worth $190,554,000 after buying an additional 300,000 shares during the period. Finally, Clough Capital Partners L P acquired a new stake in shares of Akero Therapeutics in the third quarter worth $3,652,000.

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.