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) during the third quarter, HoldingsChannel.com reports. The fund bought 9,230 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently modified their holdings of AKRO. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 valued at $71,000 after acquiring an additional 446 shares during the period. Eastern Bank purchased a new stake in shares of Akero Therapeutics during the third quarter valued at $100,000. Summit Financial Wealth Advisors LLC bought a new position in shares of Akero Therapeutics in the third quarter worth about $205,000. Victory Capital Management Inc. purchased a new position in Akero Therapeutics in the 3rd quarter worth about $211,000. Finally, Quest Partners LLC increased its stake in Akero Therapeutics by 22,021.1% in the 2nd quarter. Quest Partners LLC now owns 12,609 shares of the company’s stock worth $296,000 after buying an additional 12,552 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HC Wainwright restated a “buy” rating and issued a $50.00 target price on shares of Akero Therapeutics in a research note on Monday, November 18th. Citigroup assumed coverage on Akero Therapeutics in a research note on Monday, November 18th. They issued a “buy” rating and a $65.00 price objective on the stock. One equities 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.com, Akero Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $46.83.

Akero Therapeutics Stock Performance

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

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

Insider Activity

In other 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 completion of the sale, the chief operating officer now owns 226,286 shares in the company, valued at approximately $6,376,739.48. This represents a 4.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cheng sold 108,366 shares of the business’s stock in a transaction on 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 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. In the last ninety days, insiders have sold 348,248 shares of company stock worth $10,817,436. Corporate insiders own 7.94% of the company’s stock.

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.