SG Americas Securities LLC Decreases Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

SG Americas Securities LLC lessened its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKROGet Rating) by 24.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,101 shares of the company’s stock after selling 5,314 shares during the quarter. SG Americas Securities LLC’s holdings in Akero Therapeutics were worth $548,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in AKRO. Allworth Financial LP increased its holdings in Akero Therapeutics by 268.0% during the third quarter. Allworth Financial LP now owns 736 shares of the company’s stock worth $25,000 after buying an additional 536 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Akero Therapeutics during the first quarter worth about $32,000. Parallel Advisors LLC bought a new position in Akero Therapeutics during the second quarter worth about $37,000. Allspring Global Investments Holdings LLC bought a new position in Akero Therapeutics during the third quarter worth about $53,000. Finally, Amalgamated Bank bought a new position in Akero Therapeutics during the first quarter worth about $56,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Akero Therapeutics Price Performance

AKRO stock opened at $47.00 on Tuesday. The firm has a 50 day moving average of $46.18 and a 200-day moving average of $31.71. The company has a current ratio of 14.97, a quick ratio of 14.97 and a debt-to-equity ratio of 0.03. Akero Therapeutics, Inc. has a 12 month low of $7.52 and a 12 month high of $54.88. The firm has a market capitalization of $2.20 billion, a P/E ratio of -13.99 and a beta of -0.91.

Akero Therapeutics (NASDAQ:AKROGet Rating) last released its quarterly earnings data on Friday, November 4th. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.19). As a group, sell-side analysts predict that Akero Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Skorpios Trust sold 1,636,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $43.50, for a total value of $71,166,000.00. Following the completion of the transaction, the insider now directly owns 3,271,829 shares in the company, valued at $142,324,561.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Akero Therapeutics news, insider Catriona Yale sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $50.53, for a total value of $252,650.00. Following the completion of the transaction, the insider now owns 81,268 shares of the company’s stock, valued at approximately $4,106,472.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Skorpios Trust sold 1,636,000 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $43.50, for a total transaction of $71,166,000.00. Following the completion of the transaction, the insider now directly owns 3,271,829 shares of the company’s stock, valued at approximately $142,324,561.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,800,641 shares of company stock worth $78,663,549. 10.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Akero Therapeutics from $30.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, November 7th. HC Wainwright increased their target price on shares of Akero Therapeutics from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, November 7th.

Akero Therapeutics Company Profile

(Get Rating)

Akero Therapeutics, Inc operates as a cardio-metabolic nonalcoholic steatohepatitis company, which engages in developing pioneering medicines designed to restore metabolic balance and improve overall health. The firm’s lead product candidate, efruxifermin (EFX), is an analog of fibroblast growth factor 21, or FGF21, which is an endogenously expressed hormone that protects against cellular stress and regulates metabolism of lipids, carbohydrates and proteins throughout the body.

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

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