Cinctive Capital Management LP Acquires Shares of 65,307 Akero Therapeutics, Inc. (NASDAQ:AKRO)

Cinctive Capital Management LP acquired a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 65,307 shares of the company’s stock, valued at approximately $1,874,000. Cinctive Capital Management LP owned about 0.09% of Akero Therapeutics at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in Akero Therapeutics by 12.7% during the first quarter. California State Teachers Retirement System now owns 54,185 shares of the company’s stock worth $1,369,000 after buying an additional 6,113 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Akero Therapeutics by 30.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 28,521 shares of the company’s stock valued at $720,000 after purchasing an additional 6,590 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Akero Therapeutics by 191.2% in the 2nd quarter. SG Americas Securities LLC now owns 14,517 shares of the company’s stock valued at $341,000 after acquiring an additional 9,532 shares during the period. Bank of New York Mellon Corp grew its stake in Akero Therapeutics by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 251,234 shares of the company’s stock valued at $5,894,000 after purchasing an additional 61,988 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Akero Therapeutics by 30.3% during the 2nd quarter. Rhumbline Advisers now owns 107,338 shares of the company’s stock worth $2,518,000 after acquiring an additional 24,940 shares in the last quarter.

Akero Therapeutics Price Performance

Shares of NASDAQ AKRO opened at $30.75 on Wednesday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -8.20 and a beta of -0.23. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics, Inc. has a 52 week low of $15.32 and a 52 week high of $37.00. The firm has a 50-day simple moving average of $30.54 and a 200-day simple moving average of $26.58.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results 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). On average, equities analysts predict that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Activity at Akero Therapeutics

In other Akero Therapeutics news, insider Catriona Yale sold 2,485 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $27.52, for a total value of $68,387.20. Following the sale, the insider now owns 75,294 shares of the company’s stock, valued at $2,072,090.88. The trade was a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cheng sold 108,366 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $31.73, for a total value of $3,438,453.18. Following the transaction, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $19,209,881.41. The trade was a 15.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 348,248 shares of company stock worth $10,817,436. Insiders own 7.94% of the company’s stock.

Wall Street Analysts Forecast Growth

AKRO has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup began coverage on shares of Akero Therapeutics in a report on Monday, November 18th. They issued a “buy” rating and a $65.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

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.