Citigroup Begins Coverage on Akero Therapeutics (NASDAQ:AKRO)

Citigroup assumed coverage on shares of Akero Therapeutics (NASDAQ:AKRO) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $65.00 price objective on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Akero Therapeutics in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.83.

Akero Therapeutics Stock Performance

Shares of Akero Therapeutics stock opened at $29.56 on Monday. The company has a quick ratio of 24.89, a current ratio of 17.25 and a debt-to-equity ratio of 0.05. Akero Therapeutics has a 52 week low of $15.32 and a 52 week high of $37.00. The firm’s 50 day moving average is $29.53 and its two-hundred day moving average is $25.73. The firm has a market capitalization of $2.06 billion, a P/E ratio of -7.88 and a beta of -0.26.

Akero Therapeutics (NASDAQ:AKRO) last posted its 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). Research analysts forecast that Akero Therapeutics will post -3.96 EPS for the current fiscal year.

Insider Activity at Akero Therapeutics

In other news, insider Catriona Yale sold 8,851 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $27.53, for a total transaction of $243,668.03. Following the sale, the insider now owns 75,931 shares in the company, valued at $2,090,380.43. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cheng sold 1,738 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.18, for a total transaction of $45,500.84. Following the sale, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at $15,849,817.06. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 428,397 shares of company stock valued at $12,997,971 in the last ninety days. Corporate insiders own 7.94% of the company’s stock.

Institutional Trading of Akero Therapeutics

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in Akero Therapeutics by 2,366.0% in the first quarter. Russell Investments Group Ltd. now owns 1,233 shares of the company’s stock valued at $31,000 after buying an additional 1,183 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Akero Therapeutics by 21.6% in 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 acquired a new position in shares of Akero Therapeutics during the 3rd quarter valued at $100,000. Ameritas Investment Partners Inc. increased its holdings in Akero Therapeutics by 20.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,175 shares of the company’s stock valued at $156,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC purchased a new position in Akero Therapeutics in the third quarter valued at about $205,000.

Akero Therapeutics Company 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.