Akero Therapeutics, Inc. (NASDAQ:AKRO) is Propel Bio Management LLC’s 6th Largest Position

Propel Bio Management LLC increased its stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 343,729 shares of the company’s stock after purchasing an additional 15,977 shares during the quarter. Akero Therapeutics accounts for approximately 5.7% of Propel Bio Management LLC’s holdings, making the stock its 6th biggest position. Propel Bio Management LLC’s holdings in Akero Therapeutics were worth $9,862,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Akero Therapeutics by 10.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,060,479 shares of the company’s stock valued at $102,569,000 after acquiring an additional 384,555 shares in the last quarter. Vanguard Group Inc. lifted its position in Akero Therapeutics by 19.0% in the first quarter. Vanguard Group Inc. now owns 3,669,923 shares of the company’s stock valued at $92,702,000 after purchasing an additional 584,875 shares during the period. Perceptive Advisors LLC boosted its holdings in Akero Therapeutics by 8.1% in the 2nd quarter. Perceptive Advisors LLC now owns 1,499,897 shares of the company’s stock valued at $35,188,000 after purchasing an additional 112,426 shares in the last quarter. Long Focus Capital Management LLC increased its position in Akero Therapeutics by 119.0% during the 2nd quarter. Long Focus Capital Management LLC now owns 719,604 shares of the company’s stock worth $16,882,000 after purchasing an additional 391,000 shares during the period. Finally, Emerald Advisers LLC raised its stake in shares of Akero Therapeutics by 1.8% during the 3rd quarter. Emerald Advisers LLC now owns 524,427 shares of the company’s stock worth $15,046,000 after buying an additional 9,175 shares in the last quarter.

Insider Activity

In related news, COO Jonathan Young sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $28.18, for a total transaction of $281,800.00. Following the sale, the chief operating officer now owns 226,286 shares of the company’s stock, valued at $6,376,739.48. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Cheng sold 1,738 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total transaction of $45,500.84. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at $15,849,817.06. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 348,248 shares of company stock worth $10,817,436 over the last ninety days. 7.94% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup began coverage on Akero Therapeutics in a report on Monday, November 18th. They set a “buy” rating and a $65.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Akero Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $46.83.

Akero Therapeutics Stock Up 0.4 %

Akero Therapeutics stock opened at $31.90 on Tuesday. Akero Therapeutics, Inc. has a fifty-two week low of $15.32 and a fifty-two week high of $37.00. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -8.47 and a beta of -0.26. The stock’s fifty day moving average is $30.05 and its two-hundred day moving average is $26.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

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

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.