Akero Therapeutics, Inc. (NASDAQ:AKRO) Short Interest Up 32.0% in February

Akero Therapeutics, Inc. (NASDAQ:AKRO) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 4,790,000 shares, a growth of 32.0% from the January 31st total of 3,630,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is presently 4.1 days.

Insider Activity at Akero Therapeutics

In related news, CEO Andrew Cheng sold 7,855 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total transaction of $241,855.45. Following the completion of the transaction, the chief executive officer now owns 597,562 shares in the company, valued at $18,398,933.98. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Richard White sold 2,817 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total value of $86,735.43. Following the completion of the transaction, the chief financial officer now directly owns 38,335 shares in the company, valued at $1,180,334.65. This trade represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,992 shares of company stock worth $8,509,863. Company insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in shares of Akero Therapeutics during the third quarter valued at about $371,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after acquiring an additional 446 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Akero Therapeutics during the third quarter valued at approximately $211,000. Simplify Asset Management Inc. boosted its stake in Akero Therapeutics by 15.6% in the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock valued at $8,141,000 after acquiring an additional 38,279 shares in the last quarter. Finally, LMR Partners LLP grew its holdings in Akero Therapeutics by 17.0% in the third quarter. LMR Partners LLP now owns 20,597 shares of the company’s stock worth $591,000 after purchasing an additional 2,997 shares during the last quarter.

Akero Therapeutics Stock Performance

Shares of NASDAQ:AKRO opened at $45.54 on Tuesday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -12.14 and a beta of -0.11. Akero Therapeutics has a 52 week low of $17.86 and a 52 week high of $58.40. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $39.27 and a 200 day moving average of $32.78.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). On average, sell-side analysts predict that Akero Therapeutics will post -3.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AKRO. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. UBS Group upped their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Morgan Stanley lifted their price target on shares of Akero Therapeutics from $46.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Canaccord Genuity Group boosted their price target on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, HC Wainwright raised their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $76.29.

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.