According to Zacks, “Akero Therapeutics Inc. is a clinical-stage biotechnology company. It is focused on developing transformational treatments for non-alcoholic steatohepatitis and other serious metabolic disorders. The company’s product pipeline consists of AKR-001, for the treatment of non-alcoholic steatohepatitis, which are in clinical stage. Akero Therapeutics Inc. is based in San Francisco, United States. “
AKRO has been the topic of a number of other reports. Guggenheim assumed coverage on Akero Therapeutics in a report on Thursday, March 4th. They issued a “buy” rating and a $54.00 price objective on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $48.00 price objective on shares of Akero Therapeutics in a report on Tuesday, March 23rd. Morgan Stanley cut their price objective on Akero Therapeutics from $70.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, March 29th. HC Wainwright increased their price objective on Akero Therapeutics from $61.00 to $68.00 and gave the company a “buy” rating in a report on Monday, March 29th. Finally, Canaccord Genuity lowered their target price on Akero Therapeutics from $51.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, March 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Akero Therapeutics currently has a consensus rating of “Buy” and an average price target of $53.88.
NASDAQ:AKRO traded down $0.59 during mid-day trading on Monday, hitting $27.17. 16,537 shares of the company’s stock traded hands, compared to its average volume of 296,270. The company has a fifty day moving average of $30.74 and a 200 day moving average of $29.12. Akero Therapeutics has a twelve month low of $18.36 and a twelve month high of $41.16. The company has a market capitalization of $944.70 million, a P/E ratio of -12.52 and a beta of 0.58.
Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Monday, March 15th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.27). Analysts expect that Akero Therapeutics will post -2.22 earnings per share for the current year.
In other Akero Therapeutics news, CFO William Richard White sold 50,000 shares of the stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $28.64, for a total transaction of $1,432,000.00. Following the transaction, the chief financial officer now owns 52,270 shares in the company, valued at $1,497,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Young sold 3,055 shares of the stock in a transaction that occurred on Monday, February 1st. The stock was sold at an average price of $29.24, for a total value of $89,328.20. Insiders sold 59,165 shares of company stock worth $1,702,276 in the last 90 days. Company insiders own 7.09% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Credit Suisse AG boosted its position in Akero Therapeutics by 188.5% during the fourth quarter. Credit Suisse AG now owns 28,503 shares of the company’s stock worth $735,000 after purchasing an additional 18,624 shares in the last quarter. Strs Ohio lifted its position in shares of Akero Therapeutics by 30.0% in the third quarter. Strs Ohio now owns 2,600 shares of the company’s stock valued at $80,000 after acquiring an additional 600 shares in the last quarter. Silverarc Capital Management LLC purchased a new position in shares of Akero Therapeutics in the fourth quarter valued at approximately $908,000. Renaissance Technologies LLC lifted its position in shares of Akero Therapeutics by 314.1% in the fourth quarter. Renaissance Technologies LLC now owns 149,900 shares of the company’s stock valued at $3,867,000 after acquiring an additional 113,700 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Akero Therapeutics by 298.7% in the fourth quarter. Squarepoint Ops LLC now owns 39,815 shares of the company’s stock valued at $1,027,000 after acquiring an additional 29,830 shares in the last quarter. Institutional investors own 83.49% of the company’s stock.
About Akero Therapeutics
Akero Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development and commercialization of treatments for serious metabolic diseases. Its lead product candidate is AKR-001, which is in Phase IIa clinical trial for the treatment of nonalcoholic steatohepatitis disease.The company was formerly known as Pippin Pharmaceuticals, Inc and changed its name to Akero Therapeutics, Inc in May 2018.
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