State Board of Administration of Florida Retirement System Raises Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

State Board of Administration of Florida Retirement System boosted its holdings in shares of Akero Therapeutics, Inc. (NASDAQ:AKROGet Rating) by 43.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,135 shares of the company’s stock after acquiring an additional 5,220 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Akero Therapeutics were worth $162,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Akero Therapeutics by 19.0% during the first quarter. Wellington Management Group LLP now owns 2,232,523 shares of the company’s stock valued at $31,679,000 after buying an additional 355,712 shares during the period. State Street Corp increased its holdings in Akero Therapeutics by 20.0% during the first quarter. State Street Corp now owns 1,239,117 shares of the company’s stock valued at $17,583,000 after buying an additional 206,496 shares during the period. Vanguard Group Inc. increased its holdings in Akero Therapeutics by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,226,911 shares of the company’s stock valued at $17,410,000 after buying an additional 56,492 shares during the period. Rock Springs Capital Management LP increased its holdings in Akero Therapeutics by 8.2% during the first quarter. Rock Springs Capital Management LP now owns 635,214 shares of the company’s stock valued at $9,014,000 after buying an additional 48,113 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Akero Therapeutics by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 337,790 shares of the company’s stock valued at $4,794,000 after buying an additional 85,525 shares during the period.

Insider Transactions at Akero Therapeutics

In related news, Director Seth Loring Harrison sold 66,426 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $41.53, for a total transaction of $2,758,671.78. Following the completion of the transaction, the director now directly owns 168,540 shares in the company, valued at $6,999,466.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Seth Loring Harrison sold 66,426 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $41.53, for a total transaction of $2,758,671.78. Following the completion of the transaction, the director now directly owns 168,540 shares in the company, valued at $6,999,466.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Cheng sold 60,000 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $27.42, for a total transaction of $1,645,200.00. Following the transaction, the chief executive officer now owns 310,148 shares of the company’s stock, valued at $8,504,258.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 347,232 shares of company stock worth $12,071,415. Company insiders own 10.38% of the company’s stock.

Akero Therapeutics Trading Down 1.0 %

NASDAQ:AKRO opened at $43.87 on Wednesday. Akero Therapeutics, Inc. has a 12 month low of $7.52 and a 12 month high of $46.49. The firm has a fifty day simple moving average of $37.39 and a 200-day simple moving average of $20.25. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.05 billion, a P/E ratio of -13.06 and a beta of -0.91.

Akero Therapeutics (NASDAQ:AKROGet Rating) last posted its quarterly earnings data on Friday, November 4th. The company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.73) by ($0.19). On average, equities research analysts anticipate that Akero Therapeutics, Inc. will post -3.25 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on AKRO shares. Evercore ISI raised shares of Akero Therapeutics from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $10.00 to $50.00 in a report on Tuesday, September 13th. HC Wainwright lifted their price target on shares of Akero Therapeutics from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, November 7th. Raymond James lifted their price target on shares of Akero Therapeutics from $14.00 to $25.00 in a report on Tuesday, September 13th. Finally, Morgan Stanley lifted their price target on shares of Akero Therapeutics from $30.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, November 7th.

Akero Therapeutics Profile

(Get Rating)

Akero Therapeutics, Inc, a cardio-metabolic nonalcoholic steatohepatitis (NASH) company, engages in the development of medicines designed to restore metabolic balance and improve overall health. The company's lead product candidate is efruxifermin (EFX), an analog of fibroblast growth factor 21, which protects against cellular stress and regulates metabolism of lipids, carbohydrates, and proteins throughout the body.

Further Reading

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Institutional Ownership by Quarter for Akero Therapeutics (NASDAQ:AKRO)

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