HC Wainwright Reaffirms “Buy” Rating for Akero Therapeutics (NASDAQ:AKRO)

by · The Cerbat Gem

Akero Therapeutics (NASDAQ:AKRO – Get Free Report)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $50.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 50.02% from the stock’s current price.

Akero Therapeutics Trading Down 3.3 %

Akero Therapeutics stock traded down $1.12 during mid-day trading on Monday, hitting $33.33. The stock had a trading volume of 283,144 shares, compared to its average volume of 867,710. Akero Therapeutics has a 12 month low of $13.47 and a 12 month high of $37.00. The stock has a 50-day simple moving average of $29.02 and a two-hundred day simple moving average of $25.27. The company has a current ratio of 24.89, a quick ratio of 24.89 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.31 billion, a PE ratio of -8.89 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO – Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). As a group, sell-side analysts forecast that Akero Therapeutics will post -3.64 EPS for the current year.

Insider Transactions at Akero Therapeutics

In other news, CFO William Richard White sold 75,159 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the sale, the chief financial officer now owns 41,791 shares of the company’s stock, valued at $1,137,133.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO William Richard White sold 75,159 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $27.21, for a total transaction of $2,045,076.39. Following the completion of the transaction, the chief financial officer now directly owns 41,791 shares in the company, valued at approximately $1,137,133.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the firm’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 completion of the transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at approximately $19,209,881.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 428,397 shares of company stock valued at $12,997,971 over the last 90 days. 7.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in shares of Akero Therapeutics by 2,366.0% during the 1st quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock worth $31,000 after buying an additional 1,183 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Akero Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,511 shares of the company’s stock worth $71,000 after buying an additional 446 shares in the last quarter. Eastern Bank bought a new stake in Akero Therapeutics during the 3rd quarter worth $100,000. Headlands Technologies LLC grew its position in Akero Therapeutics by 253.5% during the 1st quarter. Headlands Technologies LLC now owns 4,217 shares of the company’s stock worth $107,000 after acquiring an additional 3,024 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Akero Therapeutics by 20.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock worth $156,000 after acquiring an additional 1,030 shares during the last quarter.

Akero Therapeutics Company Profile

(Get Free Report)

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.

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