Citigroup Inc. Has $4.55 Million Stock Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Citigroup Inc. raised its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Rating) by 3,677.1% during the fourth quarter, Holdings Channel reports. The firm owned 83,059 shares of the company’s stock after buying an additional 80,860 shares during the period. Citigroup Inc.’s holdings in Akero Therapeutics were worth $4,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Belpointe Asset Management LLC acquired a new position in shares of Akero Therapeutics in the 4th quarter worth approximately $95,000. Swiss National Bank boosted its holdings in shares of Akero Therapeutics by 2.6% in the 4th quarter. Swiss National Bank now owns 71,000 shares of the company’s stock worth $3,891,000 after acquiring an additional 1,800 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Akero Therapeutics in the 4th quarter worth approximately $455,000. Handelsbanken Fonder AB acquired a new position in shares of Akero Therapeutics in the 4th quarter worth approximately $378,000. Finally, TD Asset Management Inc boosted its holdings in shares of Akero Therapeutics by 174.1% in the 4th quarter. TD Asset Management Inc now owns 52,422 shares of the company’s stock worth $2,873,000 after acquiring an additional 33,300 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $45.60 on Friday. The firm has a fifty day moving average of $41.75 and a two-hundred day moving average of $44.22. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -16.70 and a beta of -0.94. Akero Therapeutics, Inc. has a 52 week low of $7.52 and a 52 week high of $54.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 18.61 and a current ratio of 20.83.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, CEO Andrew Cheng sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $46.65, for a total transaction of $1,166,250.00. Following the completion of the sale, the chief executive officer now owns 370,999 shares in the company, valued at approximately $17,307,103.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 75,000 shares of company stock worth $3,241,500. Insiders own 10.38% of the company’s stock.

Analyst Ratings Changes

AKRO has been the topic of several recent analyst reports. Morgan Stanley raised Akero Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $65.00 in a report on Friday, January 27th. Lifesci Capital restated an “outperform” rating on shares of Akero Therapeutics in a research report on Tuesday, April 11th. HC Wainwright dropped their price objective on shares of Akero Therapeutics from $64.00 to $62.00 in a research report on Tuesday, May 16th. Finally, Canaccord Genuity Group boosted their price objective on shares of Akero Therapeutics from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, March 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $52.00.

Akero Therapeutics Company Profile

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Akero Therapeutics, Inc is a clinical-stage company, which engages in the development of treatments for patients with serious metabolic diseases. 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.