LMR Partners LLP Acquires 2,997 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

LMR Partners LLP lifted its holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 17.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,597 shares of the company’s stock after buying an additional 2,997 shares during the period. LMR Partners LLP’s holdings in Akero Therapeutics were worth $591,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Simplify Asset Management Inc. increased its stake in Akero Therapeutics by 15.6% during the third quarter. Simplify Asset Management Inc. now owns 283,766 shares of the company’s stock worth $8,141,000 after acquiring an additional 38,279 shares during the last quarter. Vanguard Group Inc. raised its holdings in Akero Therapeutics by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after buying an additional 584,875 shares during the period. Perceptive Advisors LLC lifted its position in Akero Therapeutics by 8.1% in the second quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock worth $35,188,000 after buying an additional 112,426 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Akero Therapeutics by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock worth $5,894,000 after buying an additional 61,988 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Akero Therapeutics by 26.1% during the second quarter. The Manufacturers Life Insurance Company now owns 107,172 shares of the company’s stock valued at $2,514,000 after acquiring an additional 22,195 shares during the last quarter.

Akero Therapeutics Price Performance

Shares of AKRO stock opened at $31.03 on Wednesday. The company’s 50-day simple moving average is $29.63 and its two-hundred day simple moving average is $25.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. Akero Therapeutics, Inc. has a one year low of $15.32 and a one year high of $37.00. The company has a market capitalization of $2.17 billion, a P/E ratio of -8.27 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15). As a group, equities analysts anticipate that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Analyst Ratings Changes

AKRO has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research note on Monday. Citigroup started coverage on Akero Therapeutics in a research report on Monday. They set a “buy” rating and a $65.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Akero Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $46.83.

Insider Activity

In other news, insider Catriona Yale sold 8,851 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $27.53, for a total transaction of $243,668.03. Following the transaction, the insider now directly owns 75,931 shares in the company, valued at approximately $2,090,380.43. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Richard White sold 75,159 shares of Akero Therapeutics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the transaction, the chief financial officer now directly owns 41,791 shares in the company, valued at approximately $1,137,133.11. The trade was a 64.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 437,458 shares of company stock worth $13,249,232. Company insiders own 7.94% of the company’s stock.

Akero Therapeutics 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.