Yiheng Capital Management L.P. Has $18.53 Million Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Yiheng Capital Management L.P. reduced its stake in Akero Therapeutics, Inc. (NASDAQ:AKRO) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 666,145 shares of the company’s stock after selling 92,624 shares during the quarter. Akero Therapeutics accounts for 0.7% of Yiheng Capital Management L.P.’s portfolio, making the stock its 8th largest position. Yiheng Capital Management L.P. owned approximately 0.95% of Akero Therapeutics worth $18,532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AKRO. Summit Financial Wealth Advisors LLC bought a new stake in shares of Akero Therapeutics in the third quarter valued at about $205,000. Victory Capital Management Inc. bought a new stake in Akero Therapeutics in the 3rd quarter valued at approximately $211,000. AlphaQuest LLC boosted its position in Akero Therapeutics by 32,588.0% during the 4th quarter. AlphaQuest LLC now owns 8,172 shares of the company’s stock worth $227,000 after acquiring an additional 8,147 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Akero Therapeutics during the 3rd quarter worth approximately $265,000. Finally, XTX Topco Ltd acquired a new stake in shares of Akero Therapeutics in the third quarter valued at approximately $308,000.

Wall Street Analysts Forecast Growth

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

Akero Therapeutics Trading Down 0.3 %

Shares of Akero Therapeutics stock opened at $44.66 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 17.25. The business has a fifty day simple moving average of $43.53 and a two-hundred day simple moving average of $34.28. Akero Therapeutics, Inc. has a 1 year low of $17.86 and a 1 year high of $58.40. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -11.91 and a beta of -0.19.

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

Insider Activity

In related news, VP Patrick Lamy sold 5,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $57.03, for a total value of $285,150.00. Following the transaction, the vice president now directly owns 33,492 shares in the company, valued at approximately $1,910,048.76. This represents a 12.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jonathan Young sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $28.03, for a total transaction of $280,300.00. Following the transaction, the chief operating officer now directly owns 218,083 shares in the company, valued at approximately $6,112,866.49. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,135 shares of company stock valued at $12,345,079. 7.94% of the stock is owned by insiders.

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.