Akero Therapeutics (NASDAQ:AKRO) Rating Lowered to Sell at Zacks Investment Research

Akero Therapeutics (NASDAQ:AKRO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Akero Therapeutics Inc. is a clinical-stage biotechnology company. It is focused on developing transformational treatments for non-alcoholic steatohepatitis and other serious metabolic disorders. The company’s product pipeline consists of AKR-001, for the treatment of non-alcoholic steatohepatitis, which are in clinical stage. Akero Therapeutics Inc. is based in San Francisco, United States. “

NASDAQ:AKRO traded down $2.67 during trading hours on Thursday, hitting $20.33. The stock had a trading volume of 7,318 shares, compared to its average volume of 79,062. The business’s 50 day moving average price is $20.83. Akero Therapeutics has a one year low of $16.06 and a one year high of $30.30.

Akero Therapeutics (NASDAQ:AKRO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.13). As a group, sell-side analysts forecast that Akero Therapeutics will post -2.95 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Cormorant Asset Management LP bought a new position in Akero Therapeutics in the 2nd quarter valued at $14,704,000. Janus Henderson Group PLC bought a new stake in shares of Akero Therapeutics during the 2nd quarter worth $14,578,000. Hillhouse Capital Advisors LTD. bought a new stake in shares of Akero Therapeutics during the 2nd quarter worth $8,139,000. Boxer Capital LLC bought a new stake in shares of Akero Therapeutics during the 2nd quarter worth $7,597,000. Finally, Hillhouse Capital Management LTD. bought a new stake in shares of Akero Therapeutics during the 2nd quarter worth $5,698,000. 44.63% of the stock is owned by hedge funds and other institutional investors.

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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