Point72 Asia Singapore Pte. Ltd. Makes New Investment in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,230 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently made changes to their positions in AKRO. Erste Asset Management GmbH purchased a new position in Akero Therapeutics during the third quarter valued at $1,327,000. Fred Alger Management LLC raised its holdings in Akero Therapeutics by 117.8% in the third quarter. Fred Alger Management LLC now owns 269,601 shares of the company’s stock worth $7,735,000 after buying an additional 145,813 shares during the last quarter. Propel Bio Management LLC lifted its stake in shares of Akero Therapeutics by 4.9% in the third quarter. Propel Bio Management LLC now owns 343,729 shares of the company’s stock worth $9,862,000 after buying an additional 15,977 shares in the last quarter. FMR LLC grew its holdings in shares of Akero Therapeutics by 732.1% during the third quarter. FMR LLC now owns 30,337 shares of the company’s stock valued at $870,000 after buying an additional 26,691 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC bought a new stake in shares of Akero Therapeutics during the third quarter valued at approximately $205,000.

Akero Therapeutics Stock Down 3.9 %

Shares of AKRO stock opened at $30.75 on Wednesday. The stock has a market cap of $2.15 billion, a P/E ratio of -8.20 and a beta of -0.23. The company’s fifty day simple moving average is $30.54 and its two-hundred day simple moving average is $26.58. 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.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings results 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.

Insider Activity at Akero Therapeutics

In related news, insider Catriona Yale sold 15,485 shares of Akero Therapeutics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $32.62, for a total value of $505,120.70. Following the completion of the transaction, the insider now owns 74,158 shares in the company, valued at approximately $2,419,033.96. This trade represents a 17.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $31.73, for a total value of $3,438,453.18. Following the sale, the chief executive officer now owns 605,417 shares in the company, valued at approximately $19,209,881.41. This trade represents a 15.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 348,248 shares of company stock valued at $10,817,436. 7.94% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a research report on Monday, November 18th. Citigroup assumed coverage on shares of Akero Therapeutics in a report on Monday, November 18th. They set a “buy” rating and a $65.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

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.