Akero Therapeutics, Inc. (NASDAQ:AKRO – Get Rating) shares saw unusually-high trading volume on Wednesday after Morgan Stanley raised their price target on the stock from $26.00 to $30.00. Morgan Stanley currently has an equal weight rating on the stock. Approximately 13,477 shares traded hands during trading, a decline of 98% from the previous session’s volume of 581,915 shares.The stock last traded at $28.11 and had previously closed at $29.05.
Other research analysts have also issued research reports about the company. Evercore ISI upgraded Akero Therapeutics from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $10.00 to $50.00 in a research report on Tuesday. Raymond James boosted their price objective on Akero Therapeutics from $14.00 to $25.00 in a research report on Tuesday.
Institutional Trading of Akero Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Akero Therapeutics by 18.7% in the 4th quarter. BNP Paribas Arbitrage SA now owns 5,696 shares of the company’s stock worth $120,000 after buying an additional 898 shares in the last quarter. Virtus ETF Advisers LLC raised its position in shares of Akero Therapeutics by 15.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 8,266 shares of the company’s stock worth $175,000 after purchasing an additional 1,120 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Akero Therapeutics by 9.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 13,500 shares of the company’s stock worth $197,000 after purchasing an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Akero Therapeutics by 62.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,835 shares of the company’s stock worth $54,000 after purchasing an additional 1,476 shares during the period. Finally, Credit Suisse AG raised its position in shares of Akero Therapeutics by 14.8% during the second quarter. Credit Suisse AG now owns 12,827 shares of the company’s stock worth $122,000 after purchasing an additional 1,649 shares during the period.
Akero Therapeutics Stock Down 4.9 %
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The business has a 50-day moving average price of $12.27 and a 200-day moving average price of $11.88. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -9.25 and a beta of 0.56. The company has a quick ratio of 6.90, a current ratio of 6.90 and a debt-to-equity ratio of 0.06.
Akero Therapeutics (NASDAQ:AKRO – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.08. As a group, equities analysts anticipate that Akero Therapeutics, Inc. will post -3.13 earnings per share for the current fiscal year.
Akero Therapeutics Company Profile
Akero Therapeutics, Inc, a cardio-metabolic nonalcoholic steatohepatitis (NASH) company, engages in the development of medicines designed to restore metabolic balance and improve overall health. The company’s lead product candidate is efruxifermin (EFX), an analog of fibroblast growth factor 21, which protects against cellular stress and regulates metabolism of lipids, carbohydrates, and proteins throughout the body.
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