Cinctive Capital Management LP Grows Stock Holdings in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Cinctive Capital Management LP increased its position in shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,964 shares of the company’s stock after acquiring an additional 2,657 shares during the quarter. Cinctive Capital Management LP owned about 0.10% of Akero Therapeutics worth $1,891,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Handelsbanken Fonder AB grew its holdings in Akero Therapeutics by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 21,000 shares of the company’s stock worth $584,000 after purchasing an additional 1,000 shares during the last quarter. Swiss National Bank boosted its position in shares of Akero Therapeutics by 1.2% in the 4th quarter. Swiss National Bank now owns 95,600 shares of the company’s stock worth $2,660,000 after purchasing an additional 1,100 shares in the last quarter. Rhumbline Advisers grew its stake in Akero Therapeutics by 1.3% during the 4th quarter. Rhumbline Advisers now owns 105,686 shares of the company’s stock worth $2,940,000 after buying an additional 1,310 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Akero Therapeutics by 10.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,800 shares of the company’s stock worth $412,000 after buying an additional 1,446 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in Akero Therapeutics by 13.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,916 shares of the company’s stock valued at $485,000 after buying an additional 2,049 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Canaccord Genuity Group raised their price target on Akero Therapeutics from $56.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Citigroup lifted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. UBS Group upped their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, January 31st. HC Wainwright lifted their price objective on shares of Akero Therapeutics from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Akero Therapeutics in a research report on Sunday, March 2nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Akero Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $76.29.

Insider Transactions at Akero Therapeutics

In related news, COO Jonathan Young sold 607 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $44.88, for a total transaction of $27,242.16. Following the sale, the chief operating officer now directly owns 200,540 shares of the company’s stock, valued at approximately $9,000,235.20. This represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director G. Walmsley Graham acquired 50,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was purchased at an average price of $43.55 per share, with a total value of $2,177,500.00. Following the transaction, the director now owns 1,200,000 shares of the company’s stock, valued at approximately $52,260,000. This trade represents a 4.35 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 341,309 shares of company stock valued at $15,863,578 and have sold 242,135 shares valued at $12,064,779. Corporate insiders own 7.94% of the company’s stock.

Akero Therapeutics Price Performance

Shares of AKRO opened at $41.95 on Thursday. The business’s 50-day moving average is $46.92 and its two-hundred day moving average is $35.38. The company has a market capitalization of $3.34 billion, a P/E ratio of -11.19 and a beta of -0.19. Akero Therapeutics, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $58.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25.

Akero Therapeutics (NASDAQ:AKRO) last issued its earnings results on Friday, February 28th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.01). Research analysts predict that Akero Therapeutics, Inc. will post -3.99 earnings per share for the current year.

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.