Akero Therapeutics (NASDAQ:AKRO) Shares Gap Up Following Insider Buying Activity

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $43.58, but opened at $45.38. Akero Therapeutics shares last traded at $43.15, with a volume of 76,195 shares.

Specifically, Director G. Walmsley Graham purchased 50,000 shares of Akero Therapeutics stock in a transaction on Thursday, March 27th. The shares were bought at an average price of $43.55 per share, with a total value of $2,177,500.00. Following the completion of the acquisition, the director now directly owns 1,200,000 shares of the company’s stock, valued at approximately $52,260,000. This trade represents a 4.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G. Walmsley Graham bought 91,309 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, March 25th. The stock was bought at an average cost of $44.75 per share, for a total transaction of $4,086,077.75. Following the purchase, the director now owns 1,091,309 shares in the company, valued at $48,836,077.75. This represents a 9.13 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

AKRO has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Morgan Stanley restated an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Bank of America raised Akero Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. UBS Group raised their target price on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, HC Wainwright upped their price target on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $76.29.

Akero Therapeutics Trading Down 1.7 %

The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -11.44 and a beta of -0.19. 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’s 50 day moving average is $45.66 and its 200 day moving average is $34.90.

Akero Therapeutics (NASDAQ:AKRO) last announced its earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.01). Equities analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in Akero Therapeutics in the fourth quarter worth approximately $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Akero Therapeutics by 18.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,451 shares of the company’s stock worth $1,988,000 after acquiring an additional 11,035 shares in the last quarter. Woodline Partners LP increased its stake in shares of Akero Therapeutics by 29.9% during the 4th quarter. Woodline Partners LP now owns 379,967 shares of the company’s stock worth $10,571,000 after purchasing an additional 87,499 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Akero Therapeutics by 195.7% in the 4th quarter. Two Sigma Advisers LP now owns 41,100 shares of the company’s stock valued at $1,143,000 after purchasing an additional 27,200 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Akero Therapeutics by 43.3% in the fourth quarter. Two Sigma Investments LP now owns 127,320 shares of the company’s stock worth $3,542,000 after purchasing an additional 38,500 shares in the last quarter.

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.