Insider Buying: Akero Therapeutics, Inc. (NASDAQ:AKRO) Director Purchases $2,177,500.00 in Stock

Akero Therapeutics, Inc. (NASDAQ:AKRO) Director G. Walmsley Graham purchased 50,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $43.55 per share, for a total transaction of $2,177,500.00. Following the acquisition, the director now owns 1,200,000 shares of the company’s stock, valued at approximately $52,260,000. This represents a 4.35 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

G. Walmsley Graham also recently made the following trade(s):

• On Tuesday, March 25th, G. Walmsley Graham bought 91,309 shares of Akero Therapeutics stock. The shares were purchased at an average cost of $44.75 per share, for a total transaction of $4,086,077.75.
• On Thursday, January 30th, G. Walmsley Graham purchased 200,000 shares of Akero Therapeutics stock. The shares were acquired at an average price of $48.00 per share, with a total value of $9,600,000.00.

Akero Therapeutics Stock Down 2.0 %

Shares of NASDAQ:AKRO opened at $42.72 on Friday. Akero Therapeutics, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The company has a market capitalization of $3.40 billion, a PE ratio of -11.39 and a beta of -0.19. The business has a fifty day moving average price of $46.01 and a two-hundred day moving average price of $35.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25.

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

Institutional Investors Weigh In On Akero Therapeutics

Several large investors have recently modified their holdings of AKRO. abrdn plc lifted its stake in Akero Therapeutics by 118.7% in the fourth quarter. abrdn plc now owns 269,782 shares of the company’s stock valued at $7,505,000 after purchasing an additional 146,424 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Akero Therapeutics by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 540,692 shares of the company’s stock valued at $15,042,000 after buying an additional 8,096 shares during the period. FMR LLC lifted its position in shares of Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock valued at $870,000 after buying an additional 26,691 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Akero Therapeutics during the 4th quarter worth $320,000. Finally, SG Americas Securities LLC increased its holdings in Akero Therapeutics by 4,022.1% in the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company’s stock worth $16,636,000 after acquiring an additional 583,486 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AKRO shares. Citigroup lifted their price objective on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Bank of America raised Akero Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. Canaccord Genuity Group raised their target price on Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley reiterated an “overweight” rating on shares of Akero Therapeutics in a report on Sunday, March 2nd. Finally, HC Wainwright raised their price objective on Akero Therapeutics from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $76.29.

About Akero Therapeutics

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.