Akero Therapeutics Sees Increase in Short Interest in January

Akero Therapeutics, Inc. (NASDAQ:AKRO) experienced a notable rise in short interest during January. As of January 31st, the total short interest reached 3,630,000 shares, marking an 8.4% increase from the short interest of 3,350,000 shares reported on January 15th. With an average trading volume of 1,150,000 shares, the current short-interest ratio stands at 3.2 days.

Analyst Ratings and Price Targets

Several analysts have recently updated their ratings and price targets for Akero Therapeutics. HC Wainwright increased their target price from $50.00 to $72.00 while giving the stock a "buy" rating on January 27th. UBS Group raised their target from $42.00 to $109.00 on January 31st, also issuing a "buy" rating. Additionally, Bank of America upgraded their rating from "neutral" to "buy" and set a new target price of $63.00, up from $35.00, on January 30th. Canaccord Genuity Group also lifted their target price from $56.00 to $73.00 with a "buy" rating on January 28th. Finally, Morgan Stanley increased their target price from $46.00 to $96.00 and rated the stock as "overweight" on January 28th. Currently, nine equity research analysts have assigned a "buy" rating to the stock, according to MarketBeat.com, which shows an average rating of "buy" and a consensus target price of $75.86.

Akero Therapeutics Stock Overview

As of the latest trading session, shares of Akero Therapeutics opened at $50.52. The company's financial ratios include a quick ratio and current ratio of 17.25, and a debt-to-equity ratio of 0.05. Over the past year, the stock has seen a low of $17.86 and a high of $58.40. Akero Therapeutics currently holds a market capitalization of $3.53 billion, and the stock has a price-to-earnings ratio of -13.47, along with a beta of -0.11. The company's fifty-day moving average is $34.96, while the two-hundred day moving average stands at $30.85.

Insider Activity

In recent company news, insider Timothy Rolph sold 18,750 shares of the company's stock on February 5th at an average price of $56.51, resulting in a total sale of approximately $1,059,562.50. After this transaction, he continues to hold 170,237 shares valued at around $9,620,092.87, representing a decrease of about 9.92% in his ownership. This transaction was disclosed through a filing with the Securities and Exchange Commission. Additionally, VP Patrick Lamy sold 925 shares on December 10th at an average price of $30.79 for a total of $28,480.75. Post-transaction, he retains 17,858 shares valued at about $549,847.82, indicating a 4.92% decrease in his ownership. In total, insiders have sold 198,992 shares worth around $9,134,713 in the last 90 days, with insiders owning 7.94% of the company's stock.

Institutional Investor Activity

Recent changes among institutional investors highlight their interest in Akero Therapeutics. Creative Planning acquired a new stake valued at $371,000 during the third quarter. Similarly, Eastern Bank purchased a new stake worth about $100,000 in the same time frame. Mirae Asset Global Investments Co. Ltd. raised its holdings by 21.6% in the third quarter, owning 2,511 shares worth $71,000 after acquiring an additional 446 shares. Furthermore, China Universal Asset Management Co. Ltd. increased their holdings by 64.4% and now owns 13,354 shares worth $383,000. Lastly, Emerald Advisers LLC grew its position by 1.8% to hold 524,427 shares valued at $15,046,000 after purchasing an additional 9,175 shares in the previous quarter.

About Akero Therapeutics

Akero Therapeutics, Inc., along with its subsidiary, is focused on developing treatments for serious metabolic diseases within the United States. The company's leading product candidate, efruxifermin (EFX), is currently in Phase 3 clinical trials and aims to protect against cellular stress while regulating lipid, carbohydrate, and protein metabolism for treating patients with biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH).

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