Akero Therapeutics, Inc. (NASDAQ:AKRO) Short Interest Down 9.1% in November

Akero Therapeutics, Inc. (NASDAQ:AKRO) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 3,290,000 shares, a decrease of 9.1% from the November 15th total of 3,620,000 shares. Based on an average trading volume of 570,700 shares, the days-to-cover ratio is currently 5.8 days.

Akero Therapeutics Stock Performance

Shares of AKRO stock opened at $28.89 on Friday. The stock’s 50-day moving average is $30.81 and its two-hundred day moving average is $27.13. 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 has a 1 year low of $15.32 and a 1 year high of $37.00. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -7.70 and a beta of -0.23.

Akero Therapeutics (NASDAQ:AKRO) last released its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.15). Analysts predict that Akero Therapeutics will post -3.96 earnings per share for the current year.

Insider Transactions at Akero Therapeutics

In other news, CEO Andrew Cheng sold 108,366 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $31.73, for a total transaction of $3,438,453.18. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, COO Jonathan Young sold 50,716 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $31.57, for a total transaction of $1,601,104.12. Following the completion of the sale, the chief operating officer now directly owns 216,286 shares in the company, valued at approximately $6,828,149.02. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 398,584 shares of company stock valued at $12,430,272. 7.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akero Therapeutics

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $71,000 after purchasing an additional 446 shares during the last quarter. Eastern Bank purchased a new stake in shares of Akero Therapeutics in the third quarter valued at about $100,000. Summit Financial Wealth Advisors LLC acquired a new stake in shares of Akero Therapeutics during the third quarter worth about $205,000. Victory Capital Management Inc. purchased a new position in shares of Akero Therapeutics during the third quarter worth about $211,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Akero Therapeutics in the 3rd quarter valued at about $265,000.

Analyst Ratings Changes

A number of equities analysts recently commented on AKRO shares. Citigroup initiated coverage on shares of Akero Therapeutics in a research note on Monday, November 18th. They set a “buy” rating and a $65.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Akero Therapeutics in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

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.