Akero Therapeutics, Inc. (NASDAQ:AKRO) Short Interest Up 8.4% in January

Akero Therapeutics, Inc. (NASDAQ:AKRO) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 3,630,000 shares, an increase of 8.4% from the January 15th total of 3,350,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 3.2 days.

Akero Therapeutics Stock Up 2.6 %

Shares of Akero Therapeutics stock opened at $50.52 on Friday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -13.47 and a beta of -0.11. The company’s 50 day moving average is $34.96 and its 200 day moving average is $30.85. Akero Therapeutics has a twelve month low of $17.86 and a twelve month high of $58.40. The company has a quick ratio of 17.25, a current ratio of 17.25 and a debt-to-equity ratio of 0.05.

Insider Activity

In related news, VP Patrick Lamy sold 925 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $30.79, for a total transaction of $28,480.75. Following the transaction, the vice president now owns 17,858 shares of the company’s stock, valued at approximately $549,847.82. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director G. Walmsley Graham bought 200,000 shares of Akero Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $48.00 per share, for a total transaction of $9,600,000.00. Following the acquisition, the director now owns 1,000,000 shares in the company, valued at $48,000,000. The trade was a 25.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 198,992 shares of company stock worth $9,134,713. 7.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKRO. Foresite Capital Management VI LLC purchased a new stake in Akero Therapeutics during the fourth quarter valued at approximately $10,154,000. Northern Trust Corp increased its holdings in Akero Therapeutics by 6.1% during the fourth quarter. Northern Trust Corp now owns 620,321 shares of the company’s stock valued at $17,257,000 after buying an additional 35,737 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Akero Therapeutics by 29.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 124,592 shares of the company’s stock valued at $3,466,000 after buying an additional 28,043 shares during the last quarter. Quarry LP purchased a new stake in Akero Therapeutics during the fourth quarter valued at approximately $83,000. Finally, Aquatic Capital Management LLC increased its stake in shares of Akero Therapeutics by 463.8% in the fourth quarter. Aquatic Capital Management LLC now owns 18,041 shares of the company’s stock worth $502,000 after purchasing an additional 14,841 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on AKRO. Canaccord Genuity Group increased their target price on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Bank of America raised shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $35.00 to $63.00 in a report on Thursday, January 30th. HC Wainwright raised their price target on shares of Akero Therapeutics from $50.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, January 27th. UBS Group raised their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Citigroup raised their price target on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Akero Therapeutics presently has a consensus rating of “Buy” and an average target price of $75.86.

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.