Alkeon Capital Management LLC Sells 2,216 Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)

by · The Cerbat Gem

Alkeon Capital Management LLC trimmed its position in Akero Therapeutics, Inc. (NASDAQ:AKRO – Free Report) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,325,004 shares of the company’s stock after selling 2,216 shares during the quarter. Alkeon Capital Management LLC owned approximately 4.76% of Akero Therapeutics worth $95,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $71,000 after acquiring an additional 446 shares during the last quarter. Eastern Bank acquired a new stake in Akero Therapeutics during the 3rd quarter worth $100,000. Summit Financial Wealth Advisors LLC bought a new stake in shares of Akero Therapeutics during the 3rd quarter valued at $205,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Akero Therapeutics in the 3rd quarter valued at $211,000.

Insider Buying and Selling at Akero Therapeutics

In related news, insider Catriona Yale sold 3,871 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $27.56, for a total transaction of $106,684.76. Following the completion of the transaction, the insider now directly owns 75,294 shares in the company, valued at approximately $2,075,102.64. This trade represents a 4.89 % 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 1,738 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total value of $45,500.84. Following the transaction, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at approximately $15,849,817.06. This trade represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,248 shares of company stock valued at $10,817,436. 7.94% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AKRO has been the subject of a number of analyst reports. Citigroup began coverage on Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 18th. 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.83.

Read Our Latest Stock Analysis on Akero Therapeutics

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $32.17 on Friday. Akero Therapeutics, Inc. has a 12 month low of $15.32 and a 12 month high of $37.00. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.25 billion, a PE ratio of -8.58 and a beta of -0.26. The stock’s fifty day simple moving average is $30.33 and its 200 day simple moving average is $26.26.

Akero Therapeutics (NASDAQ:AKRO – Get Free Report) last released 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). On average, research analysts predict that Akero Therapeutics, Inc. will post -3.96 EPS for the current year.

Akero Therapeutics Profile

(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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