Akero Therapeutics, Inc. (NASDAQ:AKRO) Position Reduced by University of Wisconsin Foundation

University of Wisconsin Foundation reduced its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 410,630 shares of the company’s stock after selling 13,219 shares during the quarter. Akero Therapeutics accounts for 8.3% of University of Wisconsin Foundation’s portfolio, making the stock its 6th largest position. University of Wisconsin Foundation’s holdings in Akero Therapeutics were worth $11,424,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. FMR LLC boosted its position in Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock worth $870,000 after purchasing an additional 26,691 shares during the period. XTX Topco Ltd acquired a new position in shares of Akero Therapeutics during the third quarter worth about $308,000. Y Intercept Hong Kong Ltd boosted its position in shares of Akero Therapeutics by 13.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company’s stock worth $485,000 after buying an additional 2,049 shares during the period. Barclays PLC grew its stake in shares of Akero Therapeutics by 127.9% in the third quarter. Barclays PLC now owns 127,668 shares of the company’s stock valued at $3,662,000 after buying an additional 71,652 shares in the last quarter. Finally, Exome Asset Management LLC purchased a new stake in shares of Akero Therapeutics during the 3rd quarter valued at about $2,212,000.

Insider Activity at Akero Therapeutics

In related news, CFO William Richard White sold 676 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total transaction of $30,338.88. Following the completion of the sale, the chief financial officer now owns 61,959 shares of the company’s stock, valued at $2,780,719.92. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Cheng sold 30,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $54.90, for a total transaction of $1,647,000.00. Following the sale, the chief executive officer now owns 716,062 shares in the company, valued at approximately $39,311,803.80. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 341,309 shares of company stock valued at $15,863,578 and have sold 278,385 shares valued at $13,345,929. Corporate insiders own 7.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AKRO. HC Wainwright upped their price target on Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Citigroup upped their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. Bank of America raised shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $35.00 to $63.00 in a research report on Thursday, January 30th. Finally, UBS Group lifted their target price on Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $76.29.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $35.67 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. Akero Therapeutics, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The firm’s 50-day simple moving average is $44.86 and its 200-day simple moving average is $35.86. The firm has a market cap of $2.84 billion, a PE ratio of -9.51 and a beta of -0.18.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data 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). Equities analysts forecast that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current fiscal year.

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.