Akero Therapeutics (NASDAQ:AKRO) Stock Price Down 4.1% – Time to Sell?

Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO) traded down 4.1% during mid-day trading on Wednesday . The company traded as low as $29.36 and last traded at $29.36. 20,603 shares traded hands during trading, a decline of 98% from the average session volume of 839,450 shares. The stock had previously closed at $30.61.

Analyst Upgrades and Downgrades

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

Akero Therapeutics Price Performance

The stock has a market cap of $2.07 billion, a PE ratio of -7.91 and a beta of -0.23. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.25 and a current ratio of 17.25. The business has a 50 day moving average price of $30.91 and a two-hundred day moving average price of $27.35.

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). Research analysts expect that Akero Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akero Therapeutics news, 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 sale, the chief executive officer now directly owns 605,417 shares in the company, valued at $19,209,881.41. The trade was a 15.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Catriona Yale sold 5,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $27.65, for a total value of $152,075.00. Following the transaction, the insider now owns 75,294 shares of the company’s stock, valued at $2,081,879.10. The trade was a 6.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 392,228 shares of company stock valued at $12,255,200. 7.94% of the stock is owned by insiders.

Institutional Investors Weigh In On Akero Therapeutics

Several institutional investors have recently added to or reduced their stakes in AKRO. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 purchasing an additional 446 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Akero Therapeutics by 13.8% in 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. Handelsbanken Fonder AB raised its holdings in Akero Therapeutics by 12.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 20,000 shares of the company’s stock valued at $574,000 after acquiring an additional 2,200 shares during the period. LMR Partners LLP lifted its position in shares of Akero Therapeutics by 17.0% during the third quarter. LMR Partners LLP now owns 20,597 shares of the company’s stock worth $591,000 after acquiring an additional 2,997 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Akero Therapeutics during the 3rd quarter valued at $100,000.

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.