Akero Therapeutics (NASDAQ:AKRO) Shares Down 6.4% – Should You Sell?

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) traded down 6.4% during mid-day trading on Friday . The company traded as low as $27.50 and last traded at $27.85. 65,103 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 862,579 shares. The stock had previously closed at $29.76.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Akero Therapeutics in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.20.

Akero Therapeutics Stock Down 5.6 %

The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -7.49 and a beta of -0.26. The business’s 50-day moving average is $29.46 and its 200-day moving average is $25.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 24.89 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings data on Friday, November 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.15). On average, equities analysts predict that Akero Therapeutics, Inc. will post -3.94 EPS for the current year.

Insider Transactions at Akero Therapeutics

In other news, insider Catriona Yale sold 5,200 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $27.51, for a total value of $143,052.00. Following the transaction, the insider now owns 75,931 shares of the company’s stock, valued at approximately $2,088,861.81. This trade represents a 6.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Richard White sold 75,159 shares of Akero Therapeutics stock in a transaction on 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 directly owns 41,791 shares of the company’s stock, valued at $1,137,133.11. This represents a 64.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 428,397 shares of company stock worth $12,997,971. Insiders own 7.94% of the company’s stock.

Hedge Funds Weigh In On Akero Therapeutics

Several institutional investors have recently modified their holdings of AKRO. Russell Investments Group Ltd. raised its holdings in shares of 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 purchasing an additional 1,183 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 purchasing an additional 446 shares during the last quarter. Eastern Bank bought a new stake in shares of Akero Therapeutics during the 3rd quarter worth about $100,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Akero Therapeutics by 20.0% during the first 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 period. Finally, Summit Financial Wealth Advisors LLC acquired a new position in Akero Therapeutics in the 3rd quarter valued at $205,000.

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.