Akero Therapeutics (NASDAQ:AKRO) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 755,200 shares, a decline of 32.6% from the June 30th total of 1,120,000 shares. Approximately 7.1% of the company’s shares are sold short. Based on an average daily trading volume, of 353,200 shares, the short-interest ratio is presently 2.1 days.
In related news, major shareholder Global Strategic Fund I. Venbio sold 4,603 shares of Akero Therapeutics stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $33.83, for a total transaction of $155,719.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Apple Tree Partners Iv, L.P. purchased 415,000 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were purchased at an average price of $36.00 per share, for a total transaction of $14,940,000.00. The disclosure for this purchase can be found here. 7.09% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Akero Therapeutics by 14.8% during the first quarter. Janus Henderson Group PLC now owns 2,766,820 shares of the company’s stock valued at $58,656,000 after purchasing an additional 357,287 shares in the last quarter. Versant Venture Management LLC bought a new position in shares of Akero Therapeutics during the first quarter valued at $58,015,000. Vivo Capital LLC bought a new position in shares of Akero Therapeutics during the first quarter valued at $17,135,000. BlackRock Inc. lifted its holdings in shares of Akero Therapeutics by 33.4% during the first quarter. BlackRock Inc. now owns 720,114 shares of the company’s stock valued at $15,267,000 after purchasing an additional 180,215 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in Akero Therapeutics by 690.0% during the second quarter. Candriam Luxembourg S.C.A. now owns 158,000 shares of the company’s stock valued at $3,938,000 after acquiring an additional 138,000 shares during the last quarter. 76.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:AKRO opened at $35.11 on Friday. Akero Therapeutics has a 1 year low of $10.78 and a 1 year high of $41.16. The stock’s fifty day moving average price is $31.75 and its 200-day moving average price is $24.47.
Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.19. On average, research analysts predict that Akero Therapeutics will post -2.72 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Akero Therapeutics from $31.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. ValuEngine downgraded Akero Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Chardan Capital began coverage on Akero Therapeutics in a report on Tuesday, July 7th. They issued a “buy” rating and a $79.00 target price on the stock. HC Wainwright boosted their target price on Akero Therapeutics from $45.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Zacks Investment Research downgraded Akero Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.83.
About Akero Therapeutics
Akero Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development and commercialization of transformative treatments for serious metabolic diseases with high unmet medical need. Its lead product candidate is AKR-001, which completed Phase Ib clinical trial for the treatment of non-alcoholic steatohepatitis disease.
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