A share of Akero Therapeutics Inc. (NASDAQ:AKRO) closed at $44.97 per share on Wednesday, up from $44.02 day before. While Akero Therapeutics Inc. has overperformed by 2.16%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AKRO rose by 322.65%, with highs and lows ranging from $58.38 to $10.48, whereas the simple moving average jumped by 0.75% in the last 200 days.
On January 27, 2023, Morgan Stanley Upgraded Akero Therapeutics Inc. (NASDAQ: AKRO) to Overweight.
Analysis of Akero Therapeutics Inc. (AKRO)
Akero Therapeutics Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -39.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 20.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and AKRO is registering an average volume of 673.56K. On a monthly basis, the volatility of the stock is set at 3.52%, whereas on a weekly basis, it is put at 4.28%, with a gain of 7.84% over the past seven days. Furthermore, long-term investors anticipate a median target price of $59.86, showing growth from the present price of $44.97, which can serve as yet another indication of whether AKRO is worth investing in or should be passed over.
How Do You Analyze Akero Therapeutics Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 87.71% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AKRO shares?
The recent increase in stakes in AKRO appears to be a result of several institutional investors and hedge funds increasing their positions. Janus Henderson Investors US LLC’s position in AKRO has increased by 13.93% in the first quarter. The company now owns 3,799,166 shares of the stock, with a value of $177.38 million, following the purchase of 464,505 additional shares during the last quarter. Alkeon Capital Management LLC made another decreased to its shares in AKRO during the first quarter, downing its stake by -0.71%. During the last quarter, the company picked up -23,185 additional shares for a total stake of worth $150.38 million, bringing number of shares owned by the company to 3,220,730.
During the first quarter, T. Rowe Price Associates, Inc. added a 222,643 position in AKRO. Avidity Partners Management LP sold an additional -1.38 million shares in the last quarter, decreasing its holdings by -36.03%, now holding 2.45 million shares worth $114.25 million. At the end of the first quarter, BlackRock Fund Advisors increased its AKRO holdings by 0.38% and now holds 2.42 million AKRO shares valued at $113.16 million with the added 9109.0 shares during the period. AKRO shares are owned by institutional investors to the tune of 87.71% at present.