HC Wainwright Has Negative Outlook of AKRO FY2024 Earnings

Akero Therapeutics, Inc. (NASDAQ:AKRO) – Equities research analysts at HC Wainwright cut their FY2024 earnings per share estimates for shares of Akero Therapeutics in a report released on Monday, November 11th. HC Wainwright analyst E. Arce now anticipates that the company will earn ($3.90) per share for the year, down from their prior estimate of ($3.44). HC Wainwright has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Akero Therapeutics’ current full-year earnings is ($3.82) per share. HC Wainwright also issued estimates for Akero Therapeutics’ Q4 2024 earnings at ($1.13) EPS, Q1 2025 earnings at ($1.16) EPS, Q2 2025 earnings at ($1.19) EPS, Q3 2025 earnings at ($1.20) EPS, Q4 2025 earnings at ($1.22) EPS, FY2025 earnings at ($4.77) EPS, FY2026 earnings at ($3.91) EPS and FY2027 earnings at ($1.17) EPS.

Akero Therapeutics Trading Down 4.4 %

NASDAQ:AKRO opened at $30.97 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 17.25 and a quick ratio of 24.89. Akero Therapeutics has a one year low of $13.86 and a one year high of $37.00. The company has a market cap of $2.16 billion, a PE ratio of -8.26 and a beta of -0.26. The firm has a 50-day moving average of $29.36 and a 200-day moving average of $25.50.

Akero Therapeutics (NASDAQ:AKRO) last posted its quarterly earnings results on Friday, November 8th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.15).

Insiders Place Their Bets

In related news, CEO Andrew Cheng sold 1,738 shares of Akero Therapeutics stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total transaction of $45,500.84. Following the transaction, the chief executive officer now owns 605,417 shares of the company’s stock, valued at $15,849,817.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Catriona Yale sold 15,485 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $32.62, for a total transaction of $505,120.70. Following the completion of the sale, the insider now directly owns 74,158 shares of the company’s stock, valued at approximately $2,419,033.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Cheng sold 1,738 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.18, for a total value of $45,500.84. Following the completion of the transaction, the chief executive officer now directly owns 605,417 shares in the company, valued at approximately $15,849,817.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 428,397 shares of company stock valued at $12,997,971. Corporate insiders own 7.94% of the company’s stock.

Institutional Investors Weigh In On Akero Therapeutics

Several large investors have recently modified their holdings of the stock. Propel Bio Management LLC raised its holdings in Akero Therapeutics by 4.9% during the 3rd quarter. Propel Bio Management LLC now owns 343,729 shares of the company’s stock valued at $9,862,000 after acquiring an additional 15,977 shares during the period. FMR LLC raised its stake in shares of Akero Therapeutics by 732.1% during the 3rd quarter. FMR LLC now owns 30,337 shares of the company’s stock valued at $870,000 after purchasing an additional 26,691 shares during the period. Summit Financial Wealth Advisors LLC bought a new stake in shares of Akero Therapeutics during the 3rd quarter valued at $205,000. Algert Global LLC lifted its holdings in Akero Therapeutics by 8.3% during the 3rd quarter. Algert Global LLC now owns 68,052 shares of the company’s stock worth $1,952,000 after purchasing an additional 5,191 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Akero Therapeutics in the 3rd quarter worth about $491,000.

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.