Akero Therapeutics (NASDAQ:AKRO) Short Interest Up 38.2% in September
Akero Therapeutics (NASDAQ:AKRO) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,360,000 shares, an increase of 38.2% from the September 15th total of 984,400 shares. Based on an average daily volume of 220,800 shares, the short-interest ratio is presently 6.2 days. Approximately 7.8% of the shares of the company are sold short.
Shares of Akero Therapeutics stock opened at $28.35 on Friday. The firm’s 50 day moving average price is $32.09 and its 200-day moving average price is $28.78. Akero Therapeutics has a 52-week low of $10.78 and a 52-week high of $41.16. The company has a market cap of $983.77 million, a P/E ratio of -13.50 and a beta of 0.54.
Akero Therapeutics (NASDAQ:AKRO) last released its earnings results on Wednesday, August 12th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.09. As a group, equities research analysts expect that Akero Therapeutics will post -2.51 earnings per share for the current fiscal year.
In related news, Director Kevin Bitterman sold 13,000 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $28.93, for a total transaction of $376,090.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.09% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC lifted its stake in Akero Therapeutics by 151.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 44,691 shares of the company’s stock valued at $1,114,000 after acquiring an additional 26,915 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Akero Therapeutics by 14.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 50,945 shares of the company’s stock valued at $1,270,000 after purchasing an additional 6,619 shares during the period. Great West Life Assurance Co. Can acquired a new position in shares of Akero Therapeutics in the 2nd quarter valued at $37,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Akero Therapeutics in the 2nd quarter valued at $1,607,000. Finally, Bank of America Corp DE lifted its stake in shares of Akero Therapeutics by 222.8% in the 2nd quarter. Bank of America Corp DE now owns 8,875 shares of the company’s stock valued at $221,000 after purchasing an additional 6,126 shares during the period. Institutional investors and hedge funds own 62.99% of the company’s stock.
About Akero Therapeutics
Akero Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development and commercialization of transformative treatments for serious metabolic diseases with high unmet medical need. Its lead product candidate is AKR-001, which completed Phase Ib clinical trial for the treatment of non-alcoholic steatohepatitis disease.
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