Akero Therapeutics (NASDAQ:AKRO) Trading 8.4% Higher – Time to Buy?

Akero Therapeutics, Inc. (NASDAQ:AKRO)’s stock price traded up 8.4% during mid-day trading on Thursday . The stock traded as high as $24.03 and last traded at $24.17. 575,406 shares traded hands during trading, a decline of 36% from the average session volume of 902,891 shares. The stock had previously closed at $22.31.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AKRO. Citigroup began coverage on Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research note on Thursday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Akero Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

Akero Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The business has a 50-day simple moving average of $28.99 and a 200-day simple moving average of $27.95. The firm has a market capitalization of $1.75 billion, a PE ratio of -6.70 and a beta of -0.19.

Akero Therapeutics (NASDAQ:AKRO) last issued its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Equities research analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Akero Therapeutics

In related news, COO Jonathan Young sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the transaction, the chief operating officer now owns 218,083 shares of the company’s stock, valued at $6,112,866.49. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick Lamy sold 925 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.79, for a total value of $28,480.75. Following the completion of the transaction, the vice president now directly owns 17,858 shares in the company, valued at approximately $549,847.82. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,135 shares of company stock worth $8,223,000 over the last ninety days. Company insiders own 7.94% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Akero Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after purchasing an additional 446 shares in the last quarter. Eastern Bank bought a new position in Akero Therapeutics in the third quarter worth approximately $100,000. Summit Financial Wealth Advisors LLC bought a new stake in Akero Therapeutics during the 3rd quarter valued at $205,000. Victory Capital Management Inc. bought a new stake in Akero Therapeutics during the 3rd quarter valued at $211,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Akero Therapeutics during the 3rd quarter valued at $265,000.

About Akero Therapeutics

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.