Akero Therapeutics, Inc. (NASDAQ:AKRO) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its position in Akero Therapeutics, Inc. (NASDAQ:AKROGet Rating) by 41.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,316 shares of the company’s stock after selling 10,895 shares during the period. Martingale Asset Management L P’s holdings in Akero Therapeutics were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Akero Therapeutics in the 2nd quarter worth approximately $769,000. JPMorgan Chase & Co. lifted its stake in Akero Therapeutics by 412.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 234,827 shares of the company’s stock valued at $2,219,000 after buying an additional 188,960 shares in the last quarter. Swiss National Bank lifted its stake in Akero Therapeutics by 33.2% in the 2nd quarter. Swiss National Bank now owns 49,400 shares of the company’s stock valued at $467,000 after buying an additional 12,300 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Akero Therapeutics by 43.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,135 shares of the company’s stock valued at $162,000 after buying an additional 5,220 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Akero Therapeutics in the 2nd quarter valued at approximately $294,000.

Insider Transactions at Akero Therapeutics

In other news, Director Seth Loring Harrison sold 66,426 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $41.53, for a total transaction of $2,758,671.78. Following the completion of the sale, the director now directly owns 168,540 shares in the company, valued at approximately $6,999,466.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Seth Loring Harrison sold 66,426 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $41.53, for a total transaction of $2,758,671.78. Following the completion of the sale, the director now directly owns 168,540 shares in the company, valued at approximately $6,999,466.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Timothy Rolph sold 3,138 shares of the company’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $45.04, for a total value of $141,335.52. Following the sale, the insider now owns 187,784 shares of the company’s stock, valued at $8,457,791.36. The disclosure for this sale can be found here. Insiders sold a total of 347,232 shares of company stock worth $12,071,415 in the last ninety days. Insiders own 10.38% of the company’s stock.

Wall Street Analysts Forecast Growth

AKRO has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Akero Therapeutics from $30.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, November 7th. HC Wainwright upped their target price on Akero Therapeutics from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, November 7th. Evercore ISI raised Akero Therapeutics from an “in-line” rating to an “outperform” rating and upped their target price for the company from $10.00 to $50.00 in a research note on Tuesday, September 13th. Finally, Raymond James increased their price target on Akero Therapeutics from $14.00 to $25.00 in a research note on Tuesday, September 13th.

Akero Therapeutics Trading Up 3.5 %

Shares of Akero Therapeutics stock opened at $45.39 on Thursday. Akero Therapeutics, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $46.49. The firm has a market cap of $2.12 billion, a PE ratio of -13.51 and a beta of -0.91. The business’s fifty day moving average is $37.39 and its two-hundred day moving average is $20.25. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 0.03.

Akero Therapeutics (NASDAQ:AKROGet Rating) last issued its quarterly earnings results on Friday, November 4th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.19). Analysts anticipate that Akero Therapeutics, Inc. will post -3.25 earnings per share for the current year.

Akero Therapeutics Profile

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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.

See Also

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

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